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

US soybean futures traded aggressively lower over the week on improving weather and fund liquidation. Charts turned negative and encouraged aggressive selling. Commodities across various sectors traded lower throughout the week on weaker macro news.

MATIF rapeseed futures traded lower following canola and soybeans. November futures have now lost around €30 from the highs. The key soybean-growing month of August is ahead of us and we also have the USDA report on 12 August.

In the UK, harvest has been very stop-start due to wet weather, but things are progressing in the south with the north yet to start.