World grain and oilseed export prices mostly posted net declines over the past two months, but rice values rose sharply. Market activity was frequently light during the holiday period and technical trading and movements in currencies influenced prices.
Conditions for a portion of Ukraine’s 2010/11 winter grains have been alarmingly unfavorable due to persistent dryness. Weather data and satellite imagery indicate that both surface and subsurface moisture during August and September were the lowest in recent years. Although the situation has improved following rainfall in late September and early October, the earlier dryness hampered the emergence and establishment of winter crops in significant areas of southern and eastern Ukraine. Subsurface moisturereserves remain significantly below normal. (View surface-wetness graphs of southern, eastern, and central Ukraine.)