World: Global malting barley price trend turns slightly more upward

Globally, the world’s malting barley price trend has turned slightly more upward, led by France and Australia. Meanwhile, Canada and Argentina still face the ongoing weak demand picture, which is concerning about the timing and volume of export shipments from both regions, and their flatter prices are an indication of this concern, RMI Analytics said in their latest report on October 3.

At the moment, grain markets are showing some life, but the extent of this ‘rally’ is still taking place in a very weak demand picture.

Fundamentally, the drought conditions in Russia led to an increase in export taxes, aimed to ensure ample domestic supply is maintained. Add to that the frost event is Australia and the wheat and barley supply is tightening.

The Black Sea has moved from the low-price origin for wheat and barley (July’24-Sept.’24) to being less active in global trade activity.

Barley prices continue to follow the lead from wheat, and for now price direction has turned slightly upward.