Jonathan Lane, trading manager at Gleadells, recounts the latest goings on in the global oilseed markets.

There were rumours earlier in the week of the IMF pumping €600 billion of liquidity into Europe or Italy but these were not confirmed, although it was enough to push the market higher.

Central banks around the world talked about throwing liquidity at Europe's bank borrowing problems this week, pushing equities and metals sharply higher, although Ag commodities didn’t really flinch. 

Soybean export figures were ahead of expectations last week that provided some short term support in, what has been, a bearish trend in the soy complex.

The USDA estimated EU rapeseed imports rising 16.6% to 3.0mln/t in 2011-12, an extra 350,000 tonnes on the USDA’s official forecast. 

Crush margins currently favour sunseed over rapeseed in the near term.

Australian canola is still pricing under European rapeseed Cif Europe.

Macroeconomic factors are still the driver over fundamentals, for the time being.