# Farming News - UK OSR farmgate prices continue to be buffeted by the swings in sterling - the weekly markets

> UK oilseed rape farmgate prices were moved by sterling swings, with the UK market setting a contract low before bouncing. US wheat rose about $10 per tonne on fund short covering amid dryness in the Plains and falling crop ratings. Russian and Argentine wheat remain priced at a discount to French supplies.

- Date: 2018-02-02 · published 2018-02-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/66809-farming-news-uk-osr-farmgate-prices-continue-to-be-buffeted-by-the-swings-in
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

US Plains dryness and fund buying support wheat prices, while cheap Black Sea and Argentine supplies cap gains in export markets. Currency swings are feeding into UK prices.

## Read by commodity

- WHEAT: bullish ▲
- GBPUSD: neutral
- KWHEAT: bullish ▲

## Sources

- farming.co.uk: https://www.farming.co.uk/news/uk-osr-farmgate-prices-continue-to-be-buffeted-by-the-swings-in-sterling---the-weekly-markets

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.