Orion Farming Group Weekly Straights Update: 20th March 2025
- Orion Farming Group
- Mar 19
- 3 min read
The figures in the charts are an indication only and reflect levels traded on Wednesday.
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Minimal change as the fundamental S&D of the market didn’t change.
South American crops seem secure for now and focus is beginning to move to the US and their plantings, (expecting to put in less beans in favour of maize).
The EU proposed to bring in tariffs on US soybeans from to 12th April, which is not a UK tariff, but will impact trade flows and pricing across Europe, including the soymeal that would come across from EU crush plants.
The EU accounts for approx. 10% of US bean exports.
There are some concerns around oilseed workers at the Vincentin crush plants not being paid their full wages and a national strike was called in support of them.
This strike has been postponed as the government called in a mandatory conciliation period of 15 days.
There are already tighter supplies of hipro soya heading into spring and if the dispute is not resolved, shipments could be delayed leading to supply issues.
Prices slid further as pressure came from continued uncertainty around tariffs from both the US and China on Canadian canola.
EU imports of rapeseed are slightly above last year, but the share from Canada and Australia has increased to 34% and 10% respectively, (from 22% and 1% last year), which tallies with what’s been seen in the UK, with more Canadian rapemeal being imported.
The same situation as before with minimal material available until the summer.
Prices for the summer remain at similar levels and it’s seeming less likely that lower levels will be seen until the second half of the summer period.
The situation could tighten further if there are any delays due to the strike mentioned above.
Still no change on the markets, with no additional supply lines on either wheat or maize distillers.
Nearby material remains very tight with very few sellers, until maize distillers shipments in April.
There are no signs of any home produced offers for the summer, but imported maize distillers prices still look reasonable.
No further signs of any offers on home produced product and imported material remains hard to come by.
It still seems that the home produced product may have been oversold…!
The past week saw a small rally on wheat futures as London tracked US futures.
The market is a little nervous of the US weather, with drought impacting more areas than last year, as well as generally stormy weather which could impact crops there.
Russia’s export forecast for this season continues to slide, as does EU production estimates.
Last week’s USDA WASDE set US wheat stocks higher than expected at a 4 year high, but otherwise didn’t bring much market movement to the table.
Barley prices remain reasonable and sellers are willing, but wheat remains trickier to source, with many growers preferring to hold onto grain in the hope of better prices.
And finally, totally irrelevant but quite interesting facts of the week…….
The man who discovered the source of the Nile accidentally shot himself while climbing over a stile and families in Timbuktu descended from the Moors expelled from Granada in 1492 still have the keys to their former homes.
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
Historical Product Prices
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Spot Price Trends 01/01/21 to 19/03/25 (£/t)
'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $
Currency Trends as of 19/03/2025. Blue = GBP:USD. Red = GBP:EUR
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