Orion Farming Group Weekly Straights Update: 28th May 2026
- Joe Cobb
- May 27
- 3 min read
The figures in the charts are an indication only and reflect levels traded on Wednesday.
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A calmer end to the week as the market digested all the various news – bullish US ending stocks and US-China agreement.
A combination of profit taking/technical selling brought prices down, along with some scepticism creeping in about the agreement the White House announced between the US and China.
As yet no sales to China and there were beginnings of rumours that China are denying the deal involving $17 billion worth of agricultural imports.
There was a sale of 252,000T of soy meal to unknown destinations, (some for the 25/26 season and some for the 26/27 season).
This could be China but it seems unlikely as they tend to import beans not meal.
Export duties on Argentinian soya have been reduced by 0.25% and 0.5% per month from Jan 27 onwards, which is more supportive to US prices for 2026 exports.
Weather remains positive for US crops, with plantings going well and rains set to improve soil condition as the crops begin to emerge.
Overall a good position to be in, but if flash sales to China are seen that support the agreement,, North American prices may rally and South American fall.
Seed prices were mixed supported by slow Canadian plantings (due to wet weather) and supportive veg oil prices.
UK meal prices weakened as they looked to stay in line with soya in order to remain more competitive.
Crush margins are lower for rapeseed that for soybeans, so the expectation is the continuation of higher imported meal prices than domestic crush, as crush plants in Europe swap to soybean crushing.
This may also give a bit of a base to UK prices, as the UK market could look to export meal to take advantage of the higher EU prices.
Values continue to stay at similar levels and do look good against other fibre options.
Not much change on distillers.
No news on any further government support for Ensus beyond July, so it may only be imported distillers for August onwards, which sit at higher values.
Imported wheat distillers are mostly sold out for the summer.
No change in this market and still no imported or home produced being offered.
Any indication of prices look very expensive against other options such as North American hulls.
Prices had a quieter week as US wheat markets started to sell off a little, with rains due there over the next couple of weeks., though it may well be too late to make too much improvement on conditions/yield.
European, Black Sea and UK crops are looking better, with recent wetter weather followed by this recent warm spell.
Physical markets in the UK are quiet, with buyers resistant to paying the higher prices that sellers are now commanding.
And finally, totally irrelevant but quite interesting facts of the week……In Tibet, distances were traditionally measured by the number of cups of tea needed for each journey and an octopus has horizontal pupils; whatever angle the octopus is at, its pupils always stay aligned with the horizon.
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 28 May.26 Blue = GBP:USD. Red = GBP:EUR
