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China's barley purchases have more than doubled due to poor crops in Australia and Europe, and it could buy 1 MMT of Canadian barley this year. USDA puts the European barley crop at 59 MMT and Australia's at 8 MMT, both the smallest in five years.
The EU expects a smaller barley crop and a possible 500 KMT malting barley shortfall.
Rising Chinese import demand combined with the smallest European and Australian crops in five years tightens export supplies and supports barley prices.
grains.orgJul 26, 2018grains.orgJul 26, 2018grains.orgJul 26, 2018Not enough comparable past events yet for a historical read.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
