08 June, 2023

World: French barley prices bounce higher triggered by weather concern in Denmark

After a persistent decline in barley prices there was a question raised as to when the price trend would be broken. Now, triggered by the weather concern in Denmark, French prices have bounced higher, putting an end to the bearish trend (for now), RMI Analytics said in their latest report.

This is a considerable and rapid shift for French prices which were previously leading the downward price action. While other origins were previously sitting well above French prices, due to a lack of farmer selling and/or high domestic feed prices, global price spreads are now narrowing.

The transition to crop 2023 as the primary market focus is nearly complete, with Australia the remaining active crop 2022 market. Prices in Canada and Argentina are more competitive today, mainly on the back of French prices jumping higher. Australia awaits the formal resolution to the Chinese tariff, while sitting on a large carry-over from crop 2022 and good early prospects established for crop 2023, the analysts said.

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