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

We continue to hear reports of better than expected yields in soybeans in the US but the harvest has been slightly delayed by wet weather. This has helped rally prices as exporters and crushers wait for seed. We have no USDA report this week due to the US government shutdown.

MATIF rapeseed has continued to rally this week, moving consistently higher on little fresh news. Crush margins have improved particularly in the pre-Christmas positions, with rape oil firming in the EU. European and UK crushers have used the rally to book seed with the strength in the euro, helping many UK farmers reach target-selling levels of £300/t ex farm. The move in MATIF and the euro presents a good opportunity for farmers to lock in some sales.