MarketsFarm — Unlike the dramatic leaps wheat prices have made since the Russian invasion of Ukraine 12 days ago, malt barley prices have moved very little, according to Kris Moric of Johnston’s Grains in Calgary.
Wheat “is not pulling barley prices with it, as far as we can see on our end,” Moric said, noting that a lack of demand has kept prices stable.
“Some of these malting companies are getting coverage locally. Based on the feedback we have been getting from the farmers, even with their local companies, there simply isn’t as much demand as there used to be,” he added.
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Moric said a few days will go by in between dealing with barley and those farmers willing to part with it have been selling less volume.
Moric pointed to old-crop barley in particular to highlight the lack of demand, with a small gap between it and new-crop.
Old-crop barley, he said, was going for $8.50 to $9 per bushel picked up as of Monday, — the same range as on Friday.
Meanwhile, he said new-crop barley was fetching $7.50-$8/bushel on Monday, down from $8-$8.75 from the previous Friday.
— Glen Hallick reports for MarketsFarm from Winnipeg.
