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

The early part of the week saw rapeseed futures trade higher, driven by a combination of a lack of farmer selling, some short covering by merchants and also oil demand. The move higher brought some modest farmer selling across the EU, but prices have since fallen back on some profit taking and have given up around €10 in three days.

In the UK we also saw some farmer selling as £240/t ex farm was achievable for pre-Christmas positions. The UK market continues to be supported by short covering merchants and a firmer euro/pound has helped physical prices. On the whole UK farmers remain reluctant to sell rapeseed at these levels.