International maize markets remain strong this week off the back of further Chinese buying.

On Thursday last, the United States Department of Agriculture (USDA) announced further maize export sales to China totalling 1.22 million tonnes (Mt) for 2021/22 delivery.

According to the UK's Agriculture and Horticulture Development Board (AHDB), this was the sixth consecutive day of exports sales to China, five of which have been over 1Mt.

There are also ongoing concerns for the Brazilian maize crop due to dry weather.

However, warmer and wetter forecasts for the next few weeks in many parts of the US are likely to affect sentiment.

Wheat down

However, international wheat markets are a different game.

Markets closed down last week due to improved crop prospects in the US and EU.

Favourable US weather eased some concerns in global wheat prices, although US spring wheat areas are yet to benefit from rainfall and some Canadian spring wheat areas remain dry, the AHDB reports.

Paris wheat futures

Paris wheat futures also fell on last week, with December 2021 losing €6.25/t to close at €211.50/t.

French analysists FranceAgriMer rated 79% of soft wheat crops as good or in excellent condition. This is for the second consecutive week (compared to 57% last year), as rain eases dryness concerns.

Friday also brought news on Russian wheat. Despite the forecasted 2021/22 grain crop to be down 6.1Mt this year, grain exports are forecasted to rise 3Mt to 51Mt for the 2021/22 season, according to the Russian agriculture ministry.

Oilseed rape down

Paris rapeseed futures (November 2021) closed Friday at €516.50/t, down €18.50/t across the week due to pressure in Brent crude oil futures.

Canadian canola futures were also down last week, as crop prospects improved and widespread rain across Alberta helped alleviate some soil moisture deficits.