Jonathan Lane, Gleadell’s trading director, comments on the OSR market

Soybeans weakened this week as USDA released its first report for crop 2015/16, which confirmed increasing stocks. Planting is underway in the US and at present there are no problems, though some support came from a weakening US dollar.

MATIF rapeseed futures have traded sideways this week. We see a lack of selling across Europe coupled with a lack of crush demand.  

The euro / sterling exchange rate moved aggressively lower following the UK election but has since started to retrace. We believe there is a chance, in the short term, of the euro continuing to make gains against sterling.