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

We have seen some new crop sales in the UK as prices approach levels which look reasonably attractive against the current season’s lows. Across Europe farmers remain reluctant sellers of new crop rapeseed and at present the market lacks any story to drive prices in either direction.

The MATIF futures market recovered this week following Friday’s aggressive move lower on the close, which was probably caused by some kind of trading error. Volumes are light as traders look for a new market driver or story – and struggle to find one for either direction.  

UK prices have been aided this week by the euro’s gains against sterling.