World: Global barley prices weaker in early 2024
The early start to 2024 is weaker for global barley prices, as the weight of southern hemisphere and a weak demand environment pressure prices, RMI Analytics said in their first report this year.
French prices continue to lead the way for malting barley, reflecting a rather tight malting barley situation in the EU-27 + UK.
Australia and Argentina are the most competitive origins, and Canada is showing signs of participating in further global trade activity.
Feed barley prices are being influenced by corn and wheat, which are lower also.
A much discussed topic is the continuing wide malting barley premiums (e.g. France, Canada) especially in crop 2023, but crop 2024 is also wide historically. As spring seeding approaches, wider premiums help barley in their battle for planted area with other crops. Once barley is seeded and good early development is seen, there is a likelihood premiums narrow from the current levels but only closer to harvest.
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