· Record global harvests are expected for 2013/14 for the three main cereals, as farmers respond to recent high prices.
· Spot prices of maize and wheat have fallen to US$198 a tonne for maize and US$292 a tonne for wheat — now US$144 and US$90 a tonne below their respective peaks in 2012. Future prices indicate that prices may fall still further in the near future.
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· Thai export rice prices have also been falling. 25% broken rice from Thailand is priced at a par with Vietnamese and Indian 25% broken: around US$399 a tonne.