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

The rapeseed market has remained relatively stable this week with sterling/euro moves offsetting the volatility in the Matif rapeseed futures market.

Harvest in France has started. Yields and quality are reported as slightly above average and the first vessels destined for the North European crushing mills are loading.

In the UK, anecdotal evidence would suggest that harvest dates will be a few days earlier than previous seasons, but the weather will ultimately determine when we get going.

The market outlook for harvest still suggests that there will be too much seed available in the short-term, and those who need to price and sell at harvest should take advantage of any up-lifts that currency volatility provides.