Orion Farming Group Weekly Straights Update: 14th May 2026
- Joe Cobb
- May 13
- 3 min read
The figures in the charts are an indication only and reflect levels traded on Wednesday.
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Soya markets have been quieter with potential peace talks keeping a lid on prices last week, but renewed optimism in the trade around the US-China meeting this week keeping a base in levels.
There’s been rumours that the Chinese may buy 12-13MMT of US beans, but worth remembering that they had originally promised to buy 25MMT and have already bought half of this, so this further 12-13MMT would be fulfilling that agreement.
Additionally, there has been no mention of the timeframe, so these further purchases could be Oct/Dec, (ie. US new crop).
Either way US prices could rally from any announcement from that meeting Thursday/Friday, but it should be bearish for South American values.
US plantings are at 49% complete.
Funds remain heavily long of beans/meal/oil, so there is potential for sell offs should the tide turn on either demand or geopolitical factors, (subject to weather issues!).
These markets can still push higher with minimal encouragement when they want to.
Prices nearby are coming off now as confidence is starting to return to the UK market regarding supply.
Imported values remain elevated but most shippers are not keen sellers as they’ve got enough sales not to need to discount heavily for now.
There are lower levels with regards to the domestic crush now as sellers come out of the woodwork.
Old crop prices have eased a little but new crop remains fairly static with no fresh news to sway it either up or down.
Realistically there needs to be some movement from soya markets to drive prices.
Old crop values at Erith are now circa 69% of soya prices and new crop at 63-68% for ASO and Nov/Apr.
Liverpool sits at 80% for old crop vs soya and 73-77% for new crop ASO and Nov/Apr.
Prices still look competitive against Sugarbeet for summer and next winter, given the lack of Sugarbeet expected for both seasons.
The last few years has seen more demand within South America but also from other export destinations and this could well keep a floor on prices.
Not much change on the distillers market with prices holding steady.
Ensus is due to continue producing until July but no confirmation on any further government support beyond this.
Imported US distillers are still likely to stay on the tighter side for supply, due to energy costs and carbon impact for plants.
Additionally more US demand could be seen depending on what rains are seen in the main cattle regions.
Downside looks limited for now with Ensus the only option to add further supply to the market.
No change again on the market and still minimal product on both home produced and imported and this isn’t expected to change.
Prices are expected to be higher than last winter for the upcoming winter due to lack of supply across the UK and Europe.
Mixed week on London futures as the market priced back in some good weather across the US plains and Europe, improving prospects on both sides of ‘The Pond’.
US crops still look on the poorer side than the market would like, (rated 28% god-excellent, down 3% on last week), so that keeps a base to levels, whilst the Black Sea region remains competitive for exports, keeping a lid on any rallies.
Supplies seem good, against the current demand picture, but cautious of further weather risks.
And finally, totally irrelevant but quite interesting facts of the week…….Parchment is made from the skin of sheep and the parchment scroll of the Land Tax Act of 1782 is a quarter of a mile long.
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 14 May.26 Blue = GBP:USD. Red = GBP:EUR
