Canada: Rains halt Canada’s barley market bull trend
The bull trend of Canada's barley market in 2020/21 has halted, when beneficial and partly torrential rains saved the crops, at least temporarily, in the dry Prairies, H. M. Gauger GmbH reported earlier in June.
Prices of the central feed barley market Lethbridge came down from C$350 to C$310 per tonne for old crop. New crop is offered at C$275.
Domestic and export (China) demand had incited farmers to plant 3.2 mln ha of barley vs. 2.8 mln last year. Private forecasters expect a crop of 12.5 mln tonnes (last year 10.7 mln). Exports should reach 4.2 mln vs. 3.6 mln tonnes in the present campaign. Domestic feed demand is seen at 6.9 vs. 6.3 mln tonnes.
U.S. Yellow Corn used to compete with Canadian barley in the stock feed centres of Alberta, but is not now and will hardly be competitive in the new crop year.
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