World: Rebound in barley prices takes a break for the time being
The rebound in world barley prices has taken a break for the time being, RMI Analytics said in their latest report published in late August.
Factors influencing this more sideways price action include:
Global wheat and corn prices are lower with improved crop production estimates;
Harvests in Europe and North America are advancing following rain-induced delays;
Southern hemisphere crops are developing under very good conditions, and giving a boost of confidence.
Market price action in barley over the past three months has reminded us of the tightening global barley situation and proven, yet again, that a crop is never certain until the barley is in storage.
Crop 2023 is around 13 mln tonnes smaller than crop 2022 but currently the bigger concern is the supply of quality malting barley coming out of this year’s barley crop. This week the news from Denmark is mildly positive, and the UK harvest is restarting, which is helping calm the market for the time being.
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