World: Barley prices drifting higher following completion of northern hemisphere harvest
World barley prices are drifting higher in the quiet period following completion of the northern hemisphere harvest, and while the southern hemisphere outcome is awaited, RMI Analytics reported earlier in October.
Globally, farmers are totally disinterested in selling further quantities of barley (malting or feed). With higher prices seen earlier this year and the ongoing escalations in the Russia/Ukraine conflict (which may close the Ukraine grain corridor), farmers are clearly watching from the sidelines. Demand remains present but to a lesser degree as end users seem relatively content with their current coverage levels.
Maltsters have made great strides to select barley from an overall good crop result, but there is still open demand which is difficult to cover due to a lack of farmer liquidity.
Malting barley prices are facing upward pressure from stronger feed values, which is reducing the malting premium in the process. It is proving difficult to spark selling (at any price) from a disintegrated farmer base.
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