From March until August this year, the oilseed rape market was rising from £312/t to £350/t delivered to Erith, which mirrored the French rapeseed futures market. However, AHDB is reporting a dip in the UK price, while French prices are rising.

From Friday 23 August to Friday 20 September, oilseed rape delivered to Erith in November has lost £7/t.

Over the same period, French oilseed rape futures (November 2019) have gained €11.25/t.

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Much of the change has been attributed to the strengthening of the pound against the euro since 9 August.

The pound has strengthened by over 5% in recent weeks, which has dampened any price increases, counteracting recent futures gains.

Soya

Large US stocks and continued trade dispute between the US and China, the largest soyabean purchaser, have driven the price down.

There has been some recent optimism around a trade agreement between the two, with deputy-level talks described as “productive”.

In addition, AHDB is reporting there have been some recent purchases of US soyabeans from Chinese traders. This week reports state that China purchased 600,000t of US soyabeans for shipment in October to December.

This is following 600,000t of purchases the previous week.

Alice Bailey, AHDB analyst, said: “This trade optimism is coupled with bad weather prospects in the US, causing concern for the developing crop.

“Last night’s USDA crop progress report showed soyabean crops have maintained condition from last week, but development is well behind last year and the five-year average.

“These two factors together could lift US soyabean prices, which may offer further support to oilseed rape.”