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

US soybeans remain range bound, unable to break in either direction. We see some fund short-covering as downward momentum wanes, but with harvest under way in Brazil the market is struggling for a reason to rally.

MATIF rapeseed futures have fallen on the week. We see poor crusher margins and a lack of product demand with competing commodities being offered cheaper. A firmer euro/dollar rate also added to MATIF weakness. 

In the UK we have seen high levels of ex-farm old-crop selling and prices remain relatively stable as a firmer euro/pound exchange rate offsets the falling MATIF.