Source: MarketsFarm, Phil Franz-Warkentin, Producer.com, May 9, 2019
Tight old crop supplies may be keeping nearby barley bids underpinned in the Canadian Prairies, but expectations for increased acres in 2019 mean new crop bids are at a considerable discount.
“It’s a tale of two markets right now,” said Glen Loyns, general manager of JGL Commodities in Moose Jaw, Sask. pointing to the large spread between old and new crop barley.
“You have old crop barley that’s staying strong with high demand and limited inventory left out in the country,” said Loyns. He added that a lack of farmer selling was also underpinning the spot market, as producers focus their attention of seeding the 2019 crop.
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