Canada: Barley PROs sharply higher

The CWB released July 28 its Pool Return Outlook (PRO) for the 2006-07 crop year. The Pool A feed barley PRO is up CA$11 per tone versus the June PRO, while the Designated barley PROs are up CA$13 per tone for two-row and CA$12 per tone for six-row, respectively.

The outlook for designated barley has improved this month. EU malting barley prices have strengthened due to uncertainty over the impact of the current heat wave. Reduced production expectations in Australia due to dryness, renewed Chinese demand, and potential strong U.S. demand based on low stocks and record low domestic barley production, combine to have a favourable impact on this month’s price outlook.

According to the Pool Return Outlook (PRO) for the 2005-06 crop year, the designated barley PRO is up CA$1 per tone compared to the May PRO.