Orion Farming Group Weekly Straights Update: 10th April 2025

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

South American prices rose on the expectation of more sales heading their way (as countries look to source beans away from the US) and also shippers built in protection due to uncertainty.
There are many ways this could play out, one being tariffs on US ag products.
Investment funds will be looking for places to put money and ag commodities could be an option for them, which could push the markets higher.
Nearby by availability is tightening up ahead of new crop shipments in May.
South American crops are still okay, with the Argentinian harvest now getting going and no weather issues on the horizon.
The US will begin planting soybeans in the coming weeks.

Rapemeal

Prices continued to move lower as tariff uncertainty continues to weigh on the rapeseed market.
This is due to the continued pressure of Canadian canola coming into the European/UK market.
With the lack of distiller offers and still being unable to buy soya beyond December (due to EUDR), rapemeal is a good option to cover protein through next winter.

Soya hulls

Shipments are due in a few weeks’ time which should ease some of the supply issues there have been for the past few months.
Prices aren’t still really moving and seem unlikely to face downward pressure until more shipments come in and supply lines get fuller.

Distillers

No change though some better availability nearby, with imported maize distillers boats coming in.
Both Vivergo and Ensus are running, though still no offers for summer or beyond from either – not helped by the uncertainty around global trade.
A few more offers on imported wheat distillers for the summer/next winter, but it looks very expensive against other proteins.
Maize distillers look more reasonable, though may have to compete against rapemeal soon.

Sugarbeet

As before, no home produced sugarbeet is expected to be offered for the summer and imported offers are hit and miss, but have been at a premium to where prices have been seen previously.
It looks expensive against soya hulls.

Wheat/Barley

Wheat markets have been a bit jumpy in the last few days.
On the fundamental side, weather is a bit iffy in the US and stocks remain tight in the Black Sea region.
Algeria is tendering for wheat, which looks like it could come from France this time.
This seems to be adding some support to European/UK grain markets, particularly with funds heavily short MATIF wheat futures.
UK prices remain uncompetitive on the export market, but sellers remain reluctant and seem to want to hold out for higher prices come new crop.
Looking at tariff wars, it shouldn’t impact grain as much, as China are not key buyers in the global wheat market and it’s a more globally grown product.
However managed money is moving out of stocks and looking at other ways to make profits, which could well include agricultural commodities, if there’s enough of a story.

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

The longer a whisky is aged, the longer it takes for the body to get rid of the alcohol and there are more species of plants on Cape Town’s Table Mountain than in the whole of the UK.

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