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

Soybeans have moved sideways over the week, attempting to build some support on the futures market. The US harvest is moving into its final stages and the focus now turns to South American plantings, particularly Brazil, where conditions have been less than perfect.  

The MATIF futures market has been aided by weakness in the Euro and moved higher over the week, continuing its uptrend. 

A lack of farmer selling continues in the physical market, but there is buying demand and enquiries for post-Christmas positions. UK seed remains expensive versus European – but when doesn’t it outside harvest?

UK prices have largely failed to benefit from the higher MATIF due to the weakness of the Euro. Ex-farm values are little changed on the week.