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US beer sales fell in 2023, and combined with a large barley supply in storage, malting barley demand has weakened. Anheuser-Busch has revised its 2024 contract terms three times, changing storage requirements from 12-15 months to about eight months after harvest.
Some maltsters and brewers are contracting fewer acres for 2024.
Reduced malting contracting cuts demand for US barley and leaves surplus supply to feed channels, which pressures barley prices.
agweek.comAnn BaileyJan 22, 2024Not 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.
