World: Certain degree of harvest pressure pushes barley prices downward
As northern hemisphere barley harvest continues, there is a certain degree of harvest pressure influencing prices downward, RMI Analytics said in their August report.
This drop in prices is occurring at the same time as the global production is shrinking. The explanation lies in the weak demand environment, and to the remaining uncertainty related to unharvested crops in North America and central Europe.
Despite reduced yields and some quality variability to manage in France, the global barley market continues to hold a bearish tone. Australia remains the low cost FOB origin for malting barley, and other regions are moving to stay competitive. France will not hold the same market influence as in recent years, as yield impacts have reduced available supply. Canada has moved into a more competitive position, despite a heatwave reducing top yield potential. Argentina’s crop looks good but farmer selling is non-existent.
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