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French barley prices on Euronext fell sharply against wheat futures as China halted purchases ahead of a WTO meeting on Australian barley access. New-crop barley traded at a discount to December wheat, and the last CFR China contract was registered at $317/t.
China imported 4.8 million tonnes of barley in 2022.
Halted Chinese buying removes a key demand source for French barley, and expectations of Australian re-entry into China add bearish pressure on European barley prices.
ukragroconsult.comApr 3, 2023Not enough comparable past events yet for a historical read.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
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.
