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

It’s been a fairly slow week on oilseeds with the market waiting for the USDA report and export numbers. The market is anticipating large export numbers for soybeans and a yield and production increase, we also have question marks over the planted and harvested acreage figure for US soybeans. The US harvest is now around 80% complete.

In South America improved plantings continue and we have seen better conditions in South America.

In Europe trade remains slow, crush margins are attractive and we have strong meal demand but we don’t see huge volumes of farmer selling. The MATIF rapeseed contract is trading in a range with little new input. UK domestic prices eased earlier in the week in line with MATIF, but were supported by the strength of the Euro versus Sterling.