Our view: bids are increasingly likely to stay flat through this harvest than rise, as growers compete in another oversupplied sellers' market for the available homes. High shipping costs and cheap Baltic beans are not helping.

On 22 September we moved our new-crop guide to A$450-460mt delivered Melbourne and Geelong port zone, and said reaching it may depend on growers holding beans until Egyptian buyers lift their bids. We have reviewed the return holding faba beans delivered last season, the Latvian crop, and how much room Egypt has this season for Baltic beans.