The Canadian Wheat Board (CWB) today released its monthly Pool Return Outlook (PRO) for the 2003-04 crop year. Feed barley values are unchanged while malting barley values are $1 per tonne lower.

According to the outlook, global feed barley prices have stabilized in recent weeks. Uncertainty over a possible EU export tax continues to affect exports out of this region. The potential for a near record barley crop in Australia is expected to weigh on the market. New crop malting barley values remain under pressure as overall import demand continues to be weak while Australian crop estimates continue to expand. However, relatively strong global feed barley values will put a floor on malting barley values, CWB said. The strengthening Euro has also been supportive of EU export values.

26 September, 2003