07 July, 2023

World: Weaker tone in barley prices mostly influenced by corn and wheat markets

The long-term downward world malting barley prices correction since the peak of June 2022 was recently interrupted on dryness and heat concerns in Europe and the USA. For the time being, as harvest advances in Europe, the weaker tone in prices remains, mostly influenced by outside markets like corn and wheat, RMI Analytics said in their early July report.

This time of the year is critical for the determination of the European crop outcome, and further news on the North America and southern hemisphere crop development.

With barley production nearly 11 mln tonnes below crop 2022, barley prices globally are relatively calm at the moment. Australia remains ultra-competitive, despite the expected restart of Chinese shipments (confirmation expected next week). The price spread, malting to feed barley, in Europe is a staggering USD120/tonne, indicating an expected tightness in two-row spring supply, at least until harvest confirms availability of two-row varieties.

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