# Barley boost, canola under pressure as grain markets drift | Farm Online | ACT

> Australian grain markets were drifting after the May WASDE report failed to move prices either way. A poorer US winter wheat crop was offset by strong European prospects, and the Black Sea corridor extension kept Ukrainian grain flowing. Analysts saw wheat and barley as slightly bullish while canola was expected to struggle to hold its value.

- Date: 2023-05-29 · published 2023-05-29T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36025-barley-boost-canola-under-pressure-as-grain-markets-drift-farm-online-act
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Balanced production news leaves prices range-bound into the northern hemisphere harvest, with barley supported and canola exposed to softening from high levels.

## Read by commodity

- WHEAT: neutral
- BARLEY: bullish ▲

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/8214111/grain-market-drifts-on-mixed-northern-hemisphere-news/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.