Jonathan Lane, Gleadell’s Trading Director, comments on the OSR market

In the US soybeans are entering the key August period but at present weather remains favourable.

The European rapeseed trade is focused on logistics with harvest progressing and no significant problems in any countries. The MATIF futures have now bounced around €20/t from the harvest lows. We see a lack of farmer selling across the continent with farmers looking to store seed or move it unpriced. We believe crushers are covered for August/September.

In the UK the market is dominated by logistics with rapeseed movement running into the wheat harvest. We do see some farmer selling but not in the anticipated volumes.