January 2018 Update
January 30, 2018. Mike Temple
Oilseed Rape (OSR) has been the whipping-boy of the last couple of months with spot-values currently around £293/t, a drop of over £30/t from the highs seen in early November. It is difficult to say exactly what has caused this drop-off with very few sellers at these recent levels; there has been talk of imported Australian canola coupled with increased imports of Argentine bio-diesel, but nothing certain. The pertinent point however is that there is still at least another five months until there is any new crop OSR available in the UK, and given the inherent volatility of the OSR market, you would like to think there would an upside swing at some point.
Imported ammonium nitrate (AN) continues to offer good value against UK, with at least a £10/t differential between the two. It would be hoped that with the recent strengthening of the pound imported AN and compound will remain competitive.