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

CBOT beans have continued to slide back towards $10/bushel, unable to find any upside momentum with a lack of bullish news.  Soyoil and soymeal are also down on the week.

In line with beans and after an extended upwards move, Matif rapeseed futures have made four successive lower closes after finding some upside resistance at €420.

Crush margins haven’t been particularly attractive, and the UK physical market remains expensive versus Europe, with the best buyers being short covering merchants in the spot positions.

The pound has lost ground against the euro this week, helping to partially offset the Matif move lower for UK farmers.