Orion Farming Group Weekly Straights Update: 26th February 2026
- Orion Farming Group
- Feb 26
- 3 min read
The figures in the charts are an indication only and reflect levels traded on Wednesday.
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Nearby pricing remains a bit firmer, though supply seems okay for now, although shippers continue to run stocks down ahead of new crop shipments in May.
Harvest pressure seems to mounting from Brazil, whilst China was out of the market last week due to the Lunar NY.
Continued rains in Argentina have eased concerns around yield potential, so revised production figures are up.
In the US the incoming soyabean area is projected at 85 million acres vs 81.2 last year, as price ratios favour beans over maize.
Following the Supreme Court ruling regarding Trump’s tariffs, it calls into question whether China will go through with the additional 8MMT of old crop beans.
US meal sales are up 10% y-o-y and 5% ahead of the USDA forecast, so demand is still good.
Not much change on the market, with Erith still shut and imported product remaining tight.
Prices are holding steady with spot levels sitting at around circa 80% of the soya price, but have the potential for a sharp correction downwards if/when Erith comes back online, as most of the trade will be long of material and looking to offload product.
Erith themselves remain reluctant sellers for May/Jul, which may be due to the likelihood of the volume of contracted material owed needing to be rolled forward.
New crop prices look more sensible, but still not yet worth considering.
No definite date for a restart at Erith, but rumours are it could be weeks.
The market continues to drift lower as South American crops look as expected and supply seems okay for now.
As mentioned with soya, suppliers still plan to run stocks tight into new crop shipments in May, so be aware of sudden shortages in April.
Nearby tightness remains with prices at a similar value to rapemeal, as merchants are moving into distillers as an alternative to rapemeal.
As with rapemeal a sharp downward turn could be seen when Erith comes back online.
Summer values look less likely to drop suddenly as reducing US supply is more the factor supporting them.
Unchanged week on week with the markets remaining in a rut of poor supply but also poor demand.
Summer levels look unlikely to be much better and likely into next winter due to reduced acreage.
Chicago futures led the way dragging our prices higher.
There was an element of short covering but mostly US weather concerns was the main driver.
Dryness in the US plains combined with winterkill risk may impact on winter crops, though the full extent won’t be known until spring.
Excessive rains in France are slightly diminishing crop conditions, though 88% remains good-excellent vs 74% last year.
And finally, totally irrelevant but quite interesting facts of the week…….There are six vehicles and 50 tonnes of litter on the moon left behind by the Appollo missions and because there is no weather on the moon, the footprints of the 12 men who walked on it are still there.
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 04.02.26 Blue = GBP:USD. Red = GBP:EUR
