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

The US soybean futures market continues to make new lows as harvest progresses in the US.

In the EU farmers remain reluctant sellers of seed and therefore trade remains slow. Crush margins are attractive in spot positions, but liquidity remains an issue. The MATIF futures market has risen slightly over the week but now sits at the bottom of its recent range.

UK trade is dominated by short covering merchants and farmers are busy drilling, showing little interest in selling rapeseed at current ex-farm levels. The UK domestic market remains over-priced compared with Europe.