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

Soybeans have continued to weaken following the latest USDA report and continued good weather in the US. With a large US crop looming there is little bullish news to break the bearish trend.

The MATIF rapeseed contract has also weakened over the week with the large EU crop continuing to weigh on prices. In Europe and the UK the physical market is fairly quiet with a lack of farmer selling across the Continent. Domestically the market has firmed with merchants covering short positions. We feel market direction is now harder to call and in our opinion the question is at what level will farmers begin to sell seed.  

Sterling has weakened against the Euro this week following some slightly disappointing UK economic data.