Any price strengthening into the new year did not last long, with most price indicators easing back in the past week.

It still appears to be just an up and down market and possibly going nowhere in either direction.

The AHDB report states that the Brazil’s official statistics body, Conab, actually increased maize production for some of its major producing states.

This was in sharp contrast to recent projections, which suggested that maize production was likely to be hit by the ongoing drought conditions across many states.

This was obviously one of the factors which caused global futures prices to ease.

The AHDB also reports that Russia still appears to be very active in the export market.

This report also points to the fact that maize imports into the EU have significantly surpassed wheat and barley exports, thus adding to concerns for the market later in the season.

MATIF rape is currently running at €368 for February and November, with the local physical price around €375/t.

Native wheat prices have strengthened slightly due to Brexit uncertainty, while barley is weaker.

Spot wheat is around €216 to €221/t, depending on position, with the higher offers for further out positions.

Barley is more in the €213 to €216/t range. New crop is broadly similar too, with wheat at €192 to €195/t and barley closer to €185/t.