Willie Wright, Oilseed Trader at Gleadell Grain Merchant reveals the latest trends in the global oilseed markets; droughts and freezing weather continue to dictate the market

The oilseeds market has been influenced by South American weather over the last four weeks and, although the market now feels there have been sufficient rains for the time being, only time will tell.

Weather continues to be the main feature in rapeseed currently, and we’ve gone from drought in South America to freezing temperatures and potential winter kill in the Black Sea countries. Temperatures have plummeted to -25°C and lower in Ukraine and some other Southern European countries. Interestingly, there are mixed views on what damage is being done, with some analysts reporting sufficient snow cover in places.

We’ve seen excellent volumes traded in the old crop rapeseed market with the recent rise in prices - circa £360-£365 ex farm depending on location. Domestic homes now appear to be well covered, and UK values look slightly toppy for the European market