World: Malting barley prices remain well supported in crop 2021 and firmer in crop 2022

Malting barley prices remain well supported in crop 2021 and firmer in crop 2022 as strong demand remains present, RMI Analytics said in their April report.

Three barley market shocks continue to shape the current high price environment, the analysts said:

1. Chinese tariff on Australian barley
2. Canada drought
3. Russia’s invasion of Ukraine

Ongoing questions about Ukraine’s ability to participate in world trade, and the global struggle to expand barley production, provide limited downside price potential in the short-to-medium term.

European barley crops generally look good (at this early stage) which is positive, but outside grain markets remain highly influential upon barley prices.