Canada: Feed barley values up C$15 in latest CWB PRO

Values of 2010-11 feed barley Pool A have increased by C$15 per tonne, the CWB said in its mid-month Pool Return Outlook (PRO) on September, 10.

Pool A feed barley is now valued at C$224/tonne versus C$209/tonne in the last PRO issued on August 26.

Since the last PRO, international barley values have remained strong, despite limited demand from major importers. Recent comments from the Russian government about extending its export ban have provided support for the barley market, and exports from Ukraine have been slowed by government restrictions. European values remain supported by a strong internal feed market. Expectations for the upcoming harvest in Australia remain largely positive, but the full impact of their harvest will not be clear until December, the CWB said.

As a result of the continued strength in the offshore barley market, the PRO for feed barley pool A has risen by C$15 per tonne.

Timing and quantity of barley demand by the major importing countries before the arrival of the Australian harvest will be critical in determining future price movements in the international market over the next few months, the CWB said.

15 September, 2010