The Agricultural and Horticultural Development Board (AHDB) is indicating that oilseed rape prices are remaining steady within a sector characterised by significant volatility at the present time.

Recent days have seen May 2027 rapeseed futures, linked to the Paris market, reaching £464/t.

Oilseed market continues to remain volatile but broadly pressured over recent days, with rapeseed the only major oilseed escaping this trend.

Sustained high crude oil prices, currency and US harvest progress were the main drivers across the piece.

Meanwhile, the US soyabean harvest is now well advanced, which is likely to have added to the continued pressure across the week.

The United States Department of Agriculture (USDA) is reporting that, as of October 25, the US soya bean harvest was 79% complete, up from 64% the previous week.

This was in line with trade expectations and slightly ahead of the five-year average of 77%.

With a mildly wet US Midwest last week, some progress for the soya bean crop could have been slightly delayed.

However, weather conditions will not impact market sentiment, as a record US soya bean crop comes to market.

Sowing conditions in Europe

Looking forward, the drought-hit sowing conditions in France have led to reductions in th country’s 2027/2028 EU rapeseed area forecast.

This expectation may have supported Paris rapeseed relative to the wider oilseed market.

Plantings are now expected to fall 5% year on year to 6.1 million hectares.

This compares with the 2% drop in the projected 2027/2028 forecast rape planted area.

In contrast, France’s sunflower area forecast was unchanged, and soya bean area was raised by 2%, leaving rapeseed as the only oilseed with a tighter supply outlook for next season.

Crude palm oil

Meanwhile, Malaysia's finance ministry is reviewing a proposal to temporarily suspend crude palm oil export taxes for three to five months.

The proposal follows a rise in national stocks to a record 3.5Mt in September.

A suspension would aim to support export demand and reduce inventories, which could increase the supply of more competitively priced palm oil on the global market.

In Ireland winter oilseed rape crops continue to perform well.

Establishment rates are high and weed control have been effective in the vast majority of cases.

The continuing dry weather is allowing tillage farmers to get on with all field work operations in a highly efficient manner.

The days ahead bring the promise of high pressure gaining control as the week progresses.