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

As the market waits for tomorrow’s USDA report, the US soybean market continues to see the competing factors of strong demand with a potentially large US crop looming.

Palm oil has rallied over the week. Rapeseed futures have again ticked higher over the week on decent volumes. Poor yields across Europe have been the main driver. The UK physical market continues to rally relative to futures as merchants cover shorts and buy to fill stores with UK supply and demand tight.

The euro continues its uptrend against the pound, aiding UK prices.