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

With the European harvest about to start the current outlook for 2014/15 suggests another increase in the availability of rapeseed. Huge old crop carryover stocks in Canada will more than offset the small decline in global production.

The out-turn in Europe looks set to increase year on year as crops have developed in largely favourable conditions. However, farmer selling across the EU-28 is 15-20% down on historical levels with lower prices keeping first hand sellers away from the market. Our concern is that once the combines get into the fields logistical/cash flow requirements of farmers could result in some harvest selling pressure that may depress prices even further during July/August.