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

US soybeans have been range bound over the week as the market trades in an area of support. At these levels there is currently good demand for physical soybeans, but harvest pressure keeps prices capped.

MATIF rapeseed has eased slightly over the week, pulling back €3-4, but remains firmly within its six-week range and lacks any new impetus.

In the UK we have seen some crusher buying, but activity is limited with poor margins and a general lack of farmer or merchant selling.

Prices have weakened very slightly on the week due to a firming pound. We feel sterling moves over the next few weeks could offer some upside price resistance as this week the pound has again shown some resilience against the euro.