World: Barley prices continue to move higher
World barley prices continue to move back higher after the considerable downward trend since June 2022, RMI Analytics said in their latest report.
France has reassumed the position of the highest price malting barley market, due to two key factors:
The geopolitical turmoil in Ukraine and the ending of the Black Sea Grain Initiative;
Reduced two-row barley production in Europe, led by Denmark, but also with slightly lower yields in France and the UK is adding a bullish tone to barley markets.
Canada’s crop has dryness concerns, while the southern hemisphere looks good.
The shrinking global barley crop size, coupled with impacts from external factors, is giving support to both feed and malting barley prices. For certain, barley crop 2023 is reduced and this stresses the importance of northern hemisphere harvest proceeding without issue, and a continued good development in the southern hemisphere. Any negative deviation from the current crop expectations would add to upward price pressure.
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