UK prices are trading at season-high levels, supported by buoyant world markets and a weaker £.

World prices jumped in the last 2 weeks of the year, led by tightening corn and soya markets, with wheat a follower, for the moment. In the UK, the £ remains above the 0.90 pre-deal level, likely linked to the UK discovering a new, more aggressive strain of COVID-19. We expect grain and oilseed prices to remain supported, but highly volatile ahead of the 12th of Jan USDA report, which will set the final production number for both the corn and soya US 🇺🇸 production. Meanwhile, we will keep a close eye on S. American weather conditions, with decent rains over Brazil 🇧🇷 and a drier weather over Argentina 🇦🇷.