• The rapeseed market has been pretty quiet compared to the wild price movements of the previous weeks. The USDA report released last Friday held no surprises for the oilseeds complex and the market has really not really reacted, but strong Chinese demand for soybeans combined with weather concerns for the developing crops in South America continues to underpin prices.
• In Europe the rapeseed market is still fully steady given the tight European Supply and Demand situation and this, combined with the unusually wet weather in Australia, has pushed prices to fresh contract highs this week. With the festive season almost upon us, we wouldn’t be surprised if prices saw some profit taking over the next few days. However, we believe that any setbacks will be short lived and, ultimately, the longer term outlook remains friendly.