In the UK and throughout Europe the physical market remains quiet. The rise in prices has not encouraged farmer selling.

Jonathan Lane, Gleadell’s Trading Manager, comments on the OSR market

The oilseeds complex remains extremely volatile with large price swings a seemingly daily occurrence.  Chicago soybeans have been sold off heavily with the market anticipating imminent Chinese cancellations.

With prices moving lower we could potentially see further fund liquidation and profit taking. The Brazilian harvest continues with average yields reported and no major problems.

In Europe the physical market remains quiet. Some merchants are looking to cover short positions with the Australian and Canadian seed delayed. We have seen interest for UK export but currently the UK delivered market remains a better sale. The MATIF futures market has weakened in line with soybeans. The UK physical market has seen little activity for old or new crop, the rise in prices has not encouraged farmer selling.