April 27, 2009
Canadian Wheat Board lowers old-crop feed barley price outlook
The Canadian Wheat Board has lowered its price projections for feed barley marketed during the second half of the 2008-09 (August-July) crop year.
In the latest Pool Return Outlook for Pool B feed barley, released Thursday, the CWB decreased its expected pool price by C$3.00 per ton compared to the previous month.
The CWB said international feed barley prices were largely unchanged on the month, with global barley supplies adequate for the nearby demand. Market attention is turning to the 2009-10 crop, according to the CWB. European winter barley crops are thought to be in good condition, despite lower planted area. Meanwhile, spring seedings in Europe were said to be progressing at a normal pace.
In Canada, domestic feed barley values are significantly above international values, but cheaper than imported US corn, said the CWB.
The recent volatility of the Canadian dollar was also an influence on the barley PRO, said the CWB.
