Canada: CWB released on February 24 its monthly Pool Return Outlook (PRO) for the 2004-05 crop year. The feed barley PRO (Pool B) is up C$4 per tonne, while malting barley PROs range from unchanged to C$2 per tonne higher.
CWB also communicated that global feed barley prices have risen since last month as global supplies tighten. The EU continues to subsidize exports but less aggressively than last month (now $18 US per tonne instead of $25 US per tonne). Nominal export values at the PNW have also firmed somewhat.
There has been little change in global malting barley fundamentals since last month, CWB said. North American and Australian malting barley values are a little firmer compared to last month but EU values remain under pressure due to ample supplies and weak demand.
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