More information from emalt.
Australian weather will determine the future of malting barley prices, with forecast rains holding the potential to dash expectations of a price falls, the Canadian Wheat Board said earlier this week.
Australia's overall barley production looks on course to top 8 mln tonnes, a level high by historical standards, and more than the 7.6 mln tonnes the US Department of Agriculture is forecasting, the board said.
"It has the potential to put significant pressure on world malting barley prices," the CWB said.
However, recent rains, a continuation of the moisture which has encouraged "bumper" yields, are already raising fears of crop downgrades and "causing concern about the eventual amount of malting barley available".
And further rainfall looks imminent, Luke Mathews at Commonwealth Bank of Australia said, citing moisture levels as the "primary threat to east coast crops".
"Grain quality will deteriorate for northern New South Wales and Queensland crops, while yields in southern New South Wales and Victoria are liable due to forecast heavy widespread rain this weekend," he said.
Australian weather will determine the future of malting barley prices, with forecast rains holding the potential to dash expectations of a price falls, the Canadian Wheat Board said earlier this week.
Australia's overall barley production looks on course to top 8 mln tonnes, a level high by historical standards, and more than the 7.6 mln tonnes the US Department of Agriculture is forecasting, the board said.
"It has the potential to put significant pressure on world malting barley prices," the CWB said.
However, recent rains, a continuation of the moisture which has encouraged "bumper" yields, are already raising fears of crop downgrades and "causing concern about the eventual amount of malting barley available".
And further rainfall looks imminent, Luke Mathews at Commonwealth Bank of Australia said, citing moisture levels as the "primary threat to east coast crops".
"Grain quality will deteriorate for northern New South Wales and Queensland crops, while yields in southern New South Wales and Victoria are liable due to forecast heavy widespread rain this weekend," he said.
Comment