Canada: Strong feed barley prices underpinning malting values
Feed barley prices remain very strong in western Canada and this situation underpins malting barley prices, RMI Analytics reported earlier this month.
As farmers remain reluctant to sell barley (malting barley in particular), contracting prices remain firm. Feed barley prices to farmers at CAD430-450/tonne place a firm base to the market, making it important for malting barley premiums to be sufficient.
All of this translates into malting barley prices slipping on a FOB basis, but still remaining the highest globally. Trade to China has been reported, given validity to demand remaining strong heading into harvest. Imported corn is now discounted to domestic feed barley, as US corn slips lower on weaker futures due to the improved Midwest planting conditions. Canada cattle feeders intend to continue using corn, sources report.
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