World: Malting barley prices continue to move upward

Global malting barley prices continue to move upward and stretch beyond the previous highs, RMI Analytics said in their latest report.

Canada pricing is well above other origins as the problems there are assessed and imports of malting barley are likely. Other barley origins are steady to slightly higher.

The malting barley premium continues to widen, with feed barley down slightly.

Overall trade activity has slowed, mainly due to buyers (e.g. China) pulling back from the current price offerings.

Argentina and France are currently the main global trade options for China while Australia is getting increasingly more interest from buyers searching for quality and competitive pricing which means incremental demand for barley falls to Australia. In Europe, crop 2022 is gaining more interest due to the widening spread (lower) to crop 2021 prices.

With malting barley deficits still requiring fulfilment and low farmer selling, a correction to the downsize is unlikely in the short-term, the analysts said.

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