Canada: New crop export barley prices reluctantly following downward trend
As world prices slump, led by France moving lower, Canada new crop export barley prices are following but reluctantly, RMI Analytics reported this week.
Farmers remain generally bullish due to feed barley prices holding firm and are not selling as planting begins.
Trade activity is low as maltsters and brewers monitor demand levels while beer sales struggle.
Feed barley prices for old crop (2022) remain unchanged, in limited trade activity. Cattle feeders are not fully covered for May/June, which will keep the market supported as this demand gradually shows up in the market.
Crop 2023 barley values remain at CAD55-60/tonne lower for October/November shipment at CAD350-360/tonne delivered Lethbridge. US Corn futures are lower and corn is now offered by grain companies at CAD360-365/tonne for October/November. Oats and feed wheat also remain feed grain options and building lots of competition for grain markets. Still, spot prices are steady.
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