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

A volatile week for rapeseed has seen MATIF trading lower on large volumes. Poor margins have kept crushers away from the market and old crop has been offered in volume across Europe. This week’s price action has had the look of panic selling as longs exit positions.

In the UK a move lower for the euro has also weighed on prices, and it is now testing a key level of support against sterling. Crushers remain relaxed and UK basis has weakened.

Crude oil has ticked slightly higher on the week, but palm oil and soybeans have dipped.