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

US soybean values have weakened as continued good US weather encourages longs to liquidate positions.

MATIF futures have remained range bound due to competing factors of firming canola prices and weakening soybeans.  Crush margins are unattractive and in the UK physical prices have reached a level where imports calculate.

The slight pull back of the euro against the pound over the week has knocked £2-£3/t off UK ex-farm prices. It’s worth noting the post-Brexit move in currency has raised UK prices £25-35/t.