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Ukrainian 2021 harvest barley forward prices have exceeded high-quality milling wheat prices, at $220-$230 per tonne CPT Black Sea versus $218-$227 for wheat. China bought 2.7 million tonnes of Ukrainian barley from July 2020 to February 2021, against 800,000 tonnes a year earlier.
APK-Inform says the spread is driven mainly by Chinese barley purchases.
Heavy Chinese buying is pulling Black Sea barley above wheat, supporting barley prices and tightening exportable supplies. Feed buyers face higher barley costs as this demand continues.
agcanada.comAGCanadaMar 12, 2021Not 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.
