Canada: Barley export prices slightly down despite stronger domestic market

Despite a slightly stronger domestic market, Canadian barley export prices are down slightly, and remain competitive globally, although demand is virtually non-existent, RMI Analytics� latest Journal says.

Despite the current weakness in pricing, RMI Analytics� Price Model forecasts price strength in the months ahead, with a primary driver being the tight balance sheet even with a weak demand environment.

At present, domestic maltsters appear well-covered and are focused on managing barley selections. Domestic feed barley prices are up slightly, driven by cattle feeders holding lower coverage levels as they have several options, including imported corn plus variable local feed barley quality (e.g. low test weights). A weaker CAD is making US corn imports more expensive, which supports feed barley prices.