Canada: Barley values unchanged in 2007-08 PRO

The CWB released its May 2008 Pool Return Outlook (PRO) for the 2007-08 crop year, in a press release, May 22.

Sales of 2007-08 malting barley are largely complete, with little change in expectations for farmer returns from the current year since release of the March PRO. With low worldwide carry-in stocks, malting barley prices in the international marketplace will be very sensitive to prospects for the upcoming crop.

Tight global supply and weak nearby Saudi Arabian demand remain the prevailing fundamentals in this market as new-crop supply is anticipated. New crop prospects remain largely unchanged this month, with a large European crop anticipated.

28 May, 2008