Orion Farming Group Weekly Straights Update: 07 May 2026
- Orion Farming Group
- May 7
- 3 min read
The figures in the charts are an indication only and reflect levels traded on Wednesday.
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A more volatile week as news broke that soya cargoes in Europe from South America had been rejected due to the presence of a variant of GM soya that is not approved in Europe.
This does explain why Italy recently bought a quantity of US soya meal and pushed CBOT higher as expectation grew that the EU may come to the US to source more soya until this issue is resolved.
No more sales have been reported so the market did then resume profit taking.
Soybeans have managed to push a bit higher due to strong oil prices and as a result great crush margins.
Additionally, there is increased optimism around Trump’s visit to China next week.
The meal portion does remain under a bit of pressure as the Argentinian harvest speeds up, now at 18% complete.
US plantings are at 33%, which is a good 10% ahead of the 5 year average.
There is a little concern around incoming cold temperatures, but the market is hoping it’s too early to hamper crop development.
Availability nearby continues to be tighter with premiums unlikely to reduce until new crop shipments arrive in late May and into June.
Erith has now restarted with a couple of hiccups last week which isn’t surprising considering they’ve been off-line for 3 months.
Nearby pricing remains at a premium due to reduced supply here and in Europe.
Not much movement in forward prices, though the new crop prices look better placed against soya values, (not great value though, just better than the spot situation).
Old crop looks very dear against soya.
Realistically there needs to be continued pressure on soya prices to see any more downside for the rapemeal market, August onwards.
Values look good for the summer and into next winter and considering the lack of sugarbeet for the summer and potentially next winter, cover seems a sensible option..
Ensus is due to run until June and a decision is still to be made regarding any further government support beyond the initial 3 months.
Imported prices remain at similar values as the US market stays supported by higher energy costs and higher corn prices.
Additionally, with drought conditions in parts of the US, more product could stay domestically again due to the lack of grass for cattle.
Still nothing offered for the summer or into next winter.
New crop doesn’t look likely to improve with suppliers scrambling to try and find product for new crop and any values that have been mentioned have looked expensive, (much higher than last winter).
Some profit taking was initially seen in the US market, despite the drought conditions.
This has been replaced again by concerns about cold weather in the plains, where some much needed rain may actually come as snow.
This would bring desperately needed moisture but also risk causing more damage to crops than it would benefit.
Winter wheat conditions are holding steady week on week, but remain a long way below last year’s values.
The UK market is at this point, just being dragged along for the ride!
And finally, totally irrelevant but quite interesting facts of the week…….There are nearly twice as many calories in human blood as in beer and Hawaii consumes more Spam than the 49 other US states combined.
Notes:
All figures in this report are provided by KW and commentary by GLW Feeds. Price indications are based on 29t bulk tipped loads delivered to Oxfordshire and are guide prices only.
For firm prices and availability, please contact Joe Cobb on 01865 393 139
Currency Trends as of 07 May.26 Blue = GBP:USD. Red = GBP:EUR
