The outlook for global feed barley prices has improved marginally and is supported by shrinking barley crops in the EU and Eastern Europe, according to The Canadian Wheat Board (CWB). Recent rains in Russia have been beneficial for production prospects in that country. New crop domestic values are lower due to the significant downturn in American corn prices and uncertainty about domestic feed demand due to bovine spongiform encephalopathy (BSE).

New crop malting barley prices have recently stabilized due to the quality variability in the EU crop. The six-row crop in the United States remains in good shape, but dryness is a concern for the two-row crop in Montana. As well, dryness is still a concern in parts of Western Canada and Australia, and timely rains are needed. North American and Australian growing conditions and harvest weather will be key in determining future prices.

Feed barley values are up $2 per tonne while malting barley values are $3 per tonne higher for two-row and $2 per tonne higher for six-row, the Canadian Wheat Board (CWB) released on July 25.

25 July, 2003