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

The Chicago soybean contract made new lows this week with prices pressured by favourable weather, higher crop condition ratings and early reports of good yields.

In Europe trade remains slow with enough seed coming forward to cover short positions, but not enough to pressure prices. Crush demand remains focused in the nearby positions and we lack any bullish impetus. The MATIF rapeseed contract has therefore been trading within a €10 range since early August.

In the UK the physical market has remained little changed. This week we have seen a lack of farmer selling and short covering merchants helping to support UK prices.