International grain markets took another jump last week due to ongoing global weather concerns.
In the US, cold conditions and a lack of rainfall drove concerns for supply in an already tight market.
However, over the coming week, forecasts are expected to improve slightly across parts of the US.
New-crop Chicago maize closed $15.26/t higher last week to $216.82/t.
Concerns are also strong for the Safrinha maize crop, the AHDB reports.
Planting delays, coupled with poor weather, have led to a reduction in the forecasts for the new crop.
Market analyst IHS Markit reduced its Safrinha crop production estimate by 5.6 million tonne (Mt) to 79.5Mt.
Conab currently estimates the Safrinha crop at 82.6Mt, with the next Conab forecast is due on 12 May.
The AHDB also reports that conditions across Europe remain dry, with some crops now beginning to suffer.
The area of French soft wheat rated as good or excellent fell one percentage point last week to 85%.
French winter barley is now rated as 81% good or excellent, down two percentage points.
Ukraine’s Institute of Agrarian Economy estimated Ukraine’s wheat crop to amount to 28.5Mt and maize at 31.1Mt.
Both figures are up on the 2020 crop - 25.1Mt for wheat and 30.3Mt for maize - but down on the government’s official estimates.
China’s demand for grain also continues to support prices
Drought is also affecting parts of the French rapeseed crop, with the planted area at its lowest since 1997.
France is forecast to produce 3.19Mt of rapeseed this year, 60Kt below last season, according to Stratégie Grains.
The EU27 rapeseed balance looks to be increasingly tight next season, with 6Mt-plus of imports required once again.