World: Malting barley crop prospects generally improved with rather limited downward impact on prices

While crop prospects for malting barley are generally improved globally, the price impact has been a rather limited downward move, RMI Analytics said in their early August report.

Australia is continuing to hold the low cost origin spot, supported by the amazing improvement in crop prospects. For Argentina and Canada conditions are also improved but so far the price impact has been very limited. The previous Black Sea boost to feed barley values has started to fade away.

The rain delays in Europe, impacting Germany, the UK, and Scandinavia do not appear to have negatively impact quality or yield prospects. Coupled with the improved conditions around the globe, the current tone is a rather bearish across malting barley markets, especially given the on-going weak demand for malt from the brewing and distilling industry.