# Farming News - Oilseed Market Report: Rise in sterling bodes ill for exporters

> Gleadell's trading director said an unexpected change to the US biodiesel mandate and a jump in crude oil after OPEC's output cut agreement supported vegetable oil and European rapeseed futures. Sterling's sharp rise against the euro offset those gains for UK farm gate prices, and crushers are sourcing imported rapeseed, including Australian and French cargoes.

- Date: 2016-12-02 · published 2016-12-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/73557-farming-news-oilseed-market-report-rise-in-sterling-bodes-ill-for-exporters
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Stronger vegetable oil support from biofuel policy and crude prices lifts oilseed values, while a firmer pound makes UK rapeseed less competitive against imports, limiting domestic price gains.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-06-10 | [In the eye of the storm: How the oilseeds market emerged as the global driver of agriculture markets, its role in wider food price inflation - Fastmarkets](https://feedsoft.ai/events/46619-in-the-eye-of-the-storm-how-the-oilseeds-market-emerged-as-the-global-driver-of.md) | -10.5% | -12.7% |
| SBO | 2025-02-24 | [Oilseed crush industry sees unprecedented growth, reshaping grain and feed industries \| Feed & Grain](https://feedsoft.ai/events/26171-oilseed-crush-industry-sees-unprecedented-growth-reshaping-grain-and-feed.md) | -2.0% | -5.8% |
| SBO | 2021-03-08 | [VEGOILS-Palm oil rises nearly 4% to two-month high as crude, soyoil rally By Reuters](https://feedsoft.ai/events/6562-vegoils-palm-oil-rises-nearly-4-to-two-month-high-as-crude-soyoil-rally-by.md) | +9.1% | +10.7% |
| SBO | 2022-09-01 | [What Europe’s Power Crisis Means for Oilseeds \| CZ app](https://feedsoft.ai/events/39706-what-europe-s-power-crisis-means-for-oilseeds-cz-app.md) | -2.6% | -10.8% |
| SBO | 2021-07-29 | [Valero sees favorable refining margins for 2021 as it hikes renewable diesel output \| S&P Global](https://feedsoft.ai/events/46038-valero-sees-favorable-refining-margins-for-2021-as-it-hikes-renewable-diesel.md) | -2.4% | -8.3% |
| WTI | 2026-03-20 | [Sterling dips as oil rises, still set for weekly gain on hawkish BoE \| Reuters](https://feedsoft.ai/events/20433-sterling-dips-as-oil-rises-still-set-for-weekly-gain-on-hawkish-boe-reuters.md) | -0.5% | -11.3% |
| WTI | 2019-07-31 | [Market Report & Analysis for 7/31/2019 Morning Edition - Fuels Market News](https://feedsoft.ai/events/11291-market-report-and-analysis-for-7-31-2019-morning-edition-fuels-market-news.md) | -7.6% | -5.3% |
| WTI | 2018-04-27 | [Rising crude prices supportive to corn market - Brownfield Ag News](https://feedsoft.ai/events/65539-rising-crude-prices-supportive-to-corn-market-brownfield-ag-news.md) | +0.4% | +3.8% |

## Sources

- farming.co.uk: https://farming.co.uk/news/oilseed-market-report%3A-rise-in-sterling-bodes-ill-for-exporters

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