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

Brazil’s progress with soybean plantings remains behind average and continued talk of modestly dry weather is hitting the news. At present it is far too early to read much into this; price action confirms as much with soybean futures lower on the week.

MATIF rapeseed has seen some volatile action this week, initially breaking lower before staging a recovery on limited news. We see little farmer selling at current levels but, equally at present, demand is not particularly strong due to poor crush margins.

The pound has continued to move higher against the euro with the trend clearly lower in all timeframes.