Canada: CWB released its pool return outlook for barley
The Canadian Wheat Board (CWB) released on April 28 its Pool Return Outlook (PRO) for Feed Barley Pool B for the 2004-05 crop year. The Feed Barley Pool B PRO is $6 per tonne higher compared to the March PRO.
Limited old crop exportable supplies from Australia and the U.S. have caused prices in the Pacific Northwest to remain firm. Weaker ocean freight rates are also supportive but new crop price pressure from Europe and the Black Sea is expected shortly.
The CWB released on April 28 its monthly Pool Return Outlook (PRO) for the 2005-06 crop year. The PRO for the 2005-06 feed barley Pool A is up $4 per tonne while malting barley PROs are unchanged.
Expectations for Pacific Northwest feed barley prices have improved this month as the U.S. is expected to seed one of its smallest barley crops since 1926, reducing their presence in export markets.
EU new crop malting barley prices have eased due to sufficient old crop supplies and good growing conditions. Expectations for the smaller U.S. seeded area will increase malting barley production risk and import potential. Dryness in Australia is already causing some concerns but it is premature to draw conclusions.
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