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

USDA released its prospective plantings report and US soybean plantings came in over 1 mln acres below analysts’ expectations, which gave the market a bounce.

Despite this lower-than-expected figure, soybean supplies should remain more than adequate. The focus will now turn to US weather and the prospect remains that any delays in corn plantings will increase the bean acreage.

The MATIF rapeseed futures market has ticked a few euros higher, led by soybeans, but we have little new input. The physical market is slow with farmers not selling volume and crushers not particularly keen to buy.

New crop is still not very active with farmers and traders reluctant to sell.