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

The MATIF rapeseed futures market continues to trade within a range currently unable to break higher or lower. The European physical market remains a picture of plentiful supply but with farmer retention across the Continent it is difficult to buy seed in volume. Crush margins are attractive, particularly in spot positions but price action tells us at present crushers are unwilling to drive prices higher.

In the UK the market mirrors the continent, buying physical seed is difficult as we’re below farmer selling levels and a lack of liquidity poses a problem for all market participants. The euro has risen against sterling this week, which has aided UK domestic prices.