EU Rapeseed Market 'In Free-Fall'
Rapeseed futures on the Paris-based futures market continue their alarming fall today with November EUR12 lower at EUR398/tonne.
The contract has fallen EUR80 in a little over a month and is already EUR40 below Friday's high.
"With the French well into their new-crop, and Chicago falling out of bed, the market is in free fall," said one trader.
In the UK the harvest has only just started but reasonable yields and oil levels are being reported in early cut seed. UK delivered prices have fallen around £40/tonne in a week with new crop straight off the combine now down to around £300 delivered, reports one trader. £327 delivered traded as recently as Monday morning, he added.
The contract has fallen EUR80 in a little over a month and is already EUR40 below Friday's high.
"With the French well into their new-crop, and Chicago falling out of bed, the market is in free fall," said one trader.
In the UK the harvest has only just started but reasonable yields and oil levels are being reported in early cut seed. UK delivered prices have fallen around £40/tonne in a week with new crop straight off the combine now down to around £300 delivered, reports one trader. £327 delivered traded as recently as Monday morning, he added.