Jonathan Lane, Gleadell’s Trading Director, comments on the OSR market:

The UK rapeseed market continues to be dominated by short-covering merchants in the spot positions with prices aided by sterling weakness. The UK is currently overpriced against Europe but volume sellers remain limited in the spot positions, with haulage also now a problem for December.  We are seeing some farmer selling at these levels (above £250/t ex-farm) but not in huge volumes.

 In Europe the physical market has firmed relative to futures as a lack of farmer selling impacts the market. The MATIF futures have traded higher this week but they currently remain unable to break out of the long-term down trend.