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

Soybean futures have moved lower over the week, reversing most of last week’s gains. The market seemed to run out of upward momentum with a lack of a bullish story weighing on sentiment.

The USDA reported this week that soybean supply and demand remained unchanged. We are seeing some small weather concerns in Brazil, but at present price action tells us the market isn’t looking too deeply into this.

MATIF rapeseed eased lower over the week, we have seen some farmer selling across Europe and also a firmer euro/US dollar exchange rate.

In the UK we see crusher buying in spot positions and some seed coming forward from farm as £260/t target levels are hit again.