Orion Farming Group Weekly Straights Update: 22nd May 2025

Orion Farming Group
1 day ago
3 min read

The figures in the charts are an indication only and reflect levels traded on Wednesday.

Click on a product name for more information

Hipro Soya

Prices moved a bit lower as the market/shippers digested the improvement in US/Chinese relations, although Chicago futures tried to push higher.
There are still big crops coming in from South America and plantings are going well in the US, (albeit on a lower acreage).
US plantings are 66% complete (vs 53% on the 5 year average).
The Argentinian harvest is now 65% complete, which remains 5% behind the 5 year average, yields remain good and the crop estimate remains at 50MMT.
It feels as though the market has stagnated for now, waiting for the next story to trade, as they still hold a short position.
A reminder that a weather market usually emerges during the summer on the US crop, so worth watching out for.

Rapemeal

Prices eased a bit further despite Matif rapeseed prices firming, likely giving crushers a better opportunity of better margins, so they were more willing to lock in some better meal business.
EU imports are sitting at around 5.9MMT - showing the pressure from imported rapeseed on domestic supply, which is limited.
The USDA did project a 2.3MMT increase in production for the incoming season.
The only potential bearish story on the horizon is that Canadian canola is yet to find as home for the winter, as it looks too expensive against UK/EU seed.
But a word of caution, a rally would need to be avoided in soya and also the ethanol plants to remain online.

Soya hulls

Prices are still holding firm and although supply is better than it was a month ago, it’s still tighter than it needs to be to ease prices.
The slower pace of the Argentinian harvest is keeping logistics of out-loading slow and so supply remains tighter.

Distillers

Imported maize distillers prices remained at similar levels.
US ethanol production dropped back though margins improved and remained positive.
There is unlikely to be quick decisions on the future of the UK ethanol plants as both are appealing to the UK government to provide some support or assurance to them in relation to the UK/US trade deal, which removed tariffs from US ethanol.
Neither are prepared to offer any forward pricing given the uncertainty.

Sugarbeet

No change as home produced beet remains sold out and imported is limited and also looks expensive against other fibre options.
Whilst this dry weather continues it puts the next sugarbeet crop at risk of lower yields, as well as the already lower area.

Wheat/Barley

Markets are still relatively stable in the UK as dryness across the UK and Europe (including the Black Sea Region) is continuing and pulling condition ratings lower.
US winter wheat conditions are holding steady, with 53% rated good – excellent.
US spring wheat is 72% planted vs 65% on the 5 year average.
The gap between futures and physical prices remains with sellers still reluctant.
The concerns around UK ethanol plants ( and by extension the future of the wheat that goes into those plants) remains and shows no sign of any quick resolution.

And finally, totally irrelevant but quite interesting facts of the week…….

Shuttlecocks used in professional badminton are made from the left wing of a goose, feathers from the right wing make them spin the wrong way and the Pieza genus of fly has species called Pieza kake, Pieza pie, Pieza rhea and Pieza deresistans.

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