CWB reports global deficit in quality malting barley

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The Canadian Wheat Board (CWB) on Thursday released its April 2011 Pool Return Outlook (PRO) for the 2010-11 crop year. According to the report demand of designated barley is well covered for the remainder of the crop year. There is a global deficit in quality malting barley but maltsters are aware of this fact and are behaving accordingly, the CWB said. Offshore customers are also deferring demand of quality malting barley until new crop production becomes available. The strengthening Euro increases the U.S. dollar denominated export price and reduces the overall competiveness of the EU.

Feed barley: Global barley prices continue to favour barley originations closer to demand, with the most significant example being Saudi Arabia. The EU and Australia have both a proximity and logistical advantage under current market conditions. Corn values and overall coarse grain tightness support barley prices.