World: Barley prices mostly down as crop conditions in Europe improve

Global barley prices have turned mostly lower in response to the improved crop conditions in Europe, and weather forecasts in Europe and Australia are expected to further benefit barley crops. Any shortfall in rainfall coverage could quickly turn prices upward, RMI Analytics said in their early June report.

France and Argentina are very competitive on a FOB Basis while Canada and Australia both need rain which Australia appears to be getting. Canada�s forecast is clear, which bears watching in the weeks ahead.

Malting barley prices in Europe turned lower upon the arrival of widespread rain. However, this rather sharp drop in prices also appears to presume France (who missed much of the recent rainfall) receives much needed moisture next week. Temperatures in North America and Europe are to turn hotter, making the arrival of rain even more crucial.