World: Malting barley prices soften for European barley
Malting barley prices have softened for European barley as the market appears to have absorbed the news of lower spring barley production, RMI Analytics said in their latest report.
Other markets are more steady as world trade flows are unclear:
Bullish influences include the currently tight malting barley supply situation and ongoing geopolitical impacts;
Bearish influences include the reduced beer demand for malt, and the global corn/maize production rebound in 2023.
Prices are down globally, as harvest wraps up on Europe and North America, and while wheat prices are down on an improving supply situation.
The global barley market is developing into a structure where a greater proportion of stocks are sitting in Russia, Ukraine, and Australia, while a tighter supply situation is found in North America and Europe. South America is viewed as mostly balanced at the moment but we are watching Brazil’s weather. Malting premiums are at extremely high levels as a result of the disparity between available supply of quality barley.
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