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Writer's pictureOrion Farming Group

Weekly Straights Update: 10th October 2024




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

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​Click on a product name for more information


  • Currently the soya market seem mainly affected by rumours that the EUDR regulations are being pushed back along with dry South American weather.

  • When considering weather, there is rain in the forecast, which should hopefully encourage more farmers to sell.

  • Levels have also eased off the back of crude oil being up due to geo-political conflicts.

  • Chinese demand is non-existent, so struggle to see a bullish rally on the cards.

 

  • The rapemeal situation is a bit better, ADM had boats into Teignmouth this week, so there is some availability in the south-west again.

  • Any new EUDR regulations are likely to be postponed to the end of 2025, which has already made rapemeal futures look weak.

  • There had been premiums in rapemeal in the hope that if soya can’t be fed, there will be a switch to rapemeal.

  • Prices are now giving people an opportunity to book whatever they want to use, rather than having to follow the EUDR legislation.


  • There has been a recent increase in demand both domestically as well as at origin, with crushes now being generally well sold.

  • This will mean a market already under pressure on nearby availability could tighten further.


  • Concerns have arisen over supply on domestic distillers as ethanol margins are not conducive to production and delays after planned maintenance.

  • It seem the winter market may end up focusing more on availability over price.


  • Home-produced material remains available in abundance.

  • Supply from British Sugar still seems to be meeting domestic demand, with little call for imported material shippers continue to choose destinations willing to pay a premium over the UK.


  • Prices have risen over the past week due to rising tensions in the Middle East.

  • The rally was supported by unfavourable weather conditions in some of the key producing countries.

  • Consistent dry weather in parts of Argentina is affecting production.

  • There has also been widespread frost and dry weather in Australia which has affected the crop potential.

  • On a positive note, the US had better than anticipated stock levels and rapidly increasing Black Sea exports could help keep a lid on prices for now.

  • The USDA report out on Friday is due to publish world supply and demand estimates and since the world-wide weather news and tensions in the Middle East rising, the overall outlook on grain is neutral to bullish.


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

Eating a bag of crisps a day for a year is equivalent to drinking five litres of cooking oil and the average plastic bag gets used for 12 minutes but takes up to 1,000 years to biodegrade.



Notes:

All data in this report are provided by KW. 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


Livestock Straights Feed Prices


 

Historical Product Prices​

  • You can look back at previous product prices here

  • Use the filters below to select the Product and the Date




 

Spot Price Trends 01/01/21 to 09/10/2024 (£/t)

  • ​'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $





 

Currency Trends as of 09/10/2024. Blue = GBP:USD. Red = GBP:EUR




 

Applications and Data Analytics for Orion developed by Demand Economics Ltd.


 

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