Orion Farming Group Weekly Straights Update: 23rd October 2025
- Orion Farming Group
- Oct 23
- 3 min read
The figures in the charts are an indication only and reflect levels traded on Wednesday.
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The market continues to be supported by optimism around the meeting between President Trump and President Xi at the end of October.
China are bought up through to December with Brazilian beans, which leaves a limited window for US beans until Brazilian new crop would be due in (mid-late Jan), although South American premiums have moved higher due to lack of farmer selling.
US beans are still not an option for Chinese buyers due to the tariffs involved.
US harvest is about 80% complete but not much discussion around yields. Brazilian planting is 43.5% complete, well ahead of 25% last year.
News broke earlier this week that the EU have altered their EUDR delay proposal, so there’ll be a grace period of 6 months for large companies and some alterations to paperwork submissions, but it will still come into force from the 21st December 2025.
This is due to push back from the European parliament over a second delay.
It is waiting to be voted on and some clarity from shippers regarding and cost implication to UK shipments of hipro soya/hulls.
This is not a legal requirement in the UK – but depends mainly on if the UK tranship from Europe or if retailers/processors require soya being used on farm to meet EUDR requirements.
Prices eased off, despite already looking good against soya.
The Canadian harvest is now nearly complete – with an increased production of 21MMT.
Australia are expecting a strong crop at 6.5MMT
Something to note on a potential bullish tone, Canadian trade officials met Chinese counterparts last week to try and gain some relief on Chinese tariffs of agricultural goods (including canola) without sparking anger from Trump.
Should they find some middle ground and China begin sourcing canola from Canada again, then it’s likely rapemeal prices will move higher, both on imported and UK product (as there would be reliance again on UK/EU rapeseed which is tight on availability and the meal market would be more in demand).
The market remains tight, with good demand still, globally.
This is expected to continue through the winter.
As mentioned above the EUDR situation has reared its head again, so be aware of that….
Imported distillers prices remained steady with nearby availability still tight for wheat distillers.
Mississippi river levels continue to drop which could impact again on loading volumes for export and tighter supply lines.
Ethanol production continued to ramp up in the US as plants get going after seasonal maintenance and take advantage of the corn harvest.
Margins continue to be positive but with maize prices increasing, this could alter.
Discussions between the UK government and Ensus continue, as Ensus continues to run.
Unchanged markets as per previous weeks with limited imported availability and home produced hard to come by.
Soya hulls still offer better value, for those who can utilise them.
The wheat futures market continued to slide backwards, as continued pressure came from increasing wheat estimates for next season and current.
Russia is expected to produce around 87.8MMT and they have also lowered their export tax for next week, which could provide additional pressure to the export market.
Currently France have a brisk export pace, though Argentinian wheat is starting to compete into the export markets.
Barley by comparison is quite sluggish with steady S&D.
There is talk of more malting quality going into feed markets in the south of England.
And finally, totally irrelevant but quite interesting facts of the week…….
The Ministry of Defence owns 15 golf courses and in 1910, France had more aeroplanes than Germany, Britain, Italy, Russia, Japan and the US 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 22/10/2025. Blue = GBP:USD. Red = GBP:EUR
