Jonathan Lane, Gleadell’s trading director, comments on the OSR market

A slow week on oilseeds sees soybean oil and soybean futures slightly lower and meal futures roughly unchanged. Harvest progresses in Brazil and, at present, the market sees no problems of note. Crude oil is also lower on the week and the dollar is firmer weighing on US commodity prices.

The MATIF futures contract has eased back towards its recent lows, unable to build any upward momentum due to poor crush margins. The UK market remains in a tight £5 range, little changed since September with the strengthening euro offsetting the MATIF’s drift. Export business continues to be put on the book for old crop, but new crop remains inactive.