31 January, 2007

Canada: CWB increases barley export target to 1.5 mil tonnes

The CWB has increased its barley export targets to 1.5 million tonnes making the most of a high-quality crop and positive world grain market trends, according to CWB’s Grain Marketing Report December2006/January 2007.

“Although the grain markets have shown considerable price volatility, we expect good market conditions to hold at least until new crop supplies in the northern hemisphere become more certain,” Chief Operating Officer Ward Weisensel said.

For barley, the marketing environment has improved. The U.S. produced the smallest barley crop since 1936, while Australia experienced a severe drought that dramatically reduced its barley crop. “On balance, marketing conditions are promising for both feed and malting barley in the coming season,” Weisensel says.

He cautions that there are factors that must be closely watched, including grain customers responding to high prices by delaying purchases, reducing inventory, looking for less-expensive alternatives and even cutting back on consumption. “Whenever we see a surge in prices, we can expect the market to react,” Weisensel says.

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