The Gleaner column: Futures set to dominate world trading
Due to the recent dry cold spring, barley use in animal feed remains high and the AHDB report that usage is 48% higher than in March, 2020. Production of dairy cow feed blends increased by 14.5% due to the lack of grass and at the current rate, barley usage in animal feed could reach 2m tonnes.
Last week, there was renewed interest in UK export barley for May and June from buyers in the Netherlands which could tighten the UK barley supply and demand situation for this year.
UK, the potential for an average barley crop looks now more likely, but it could still be a later harvest than normal. Gains in global grain markets is producing an increase in new UK barley prices for both feed and malting.
The continuing persistent global demand for oilseeds has seen prices continue to increase and this will continue until new supplies come forward from the 2021 Northern Hemisphere harvests. Stock levels in exporting countries are low and China, in particular, is trying to build up stocks of agricultural commodities.
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