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Inside.beer reports that barley markets rose after a large crop and weak malt demand depressed prices after harvest, catching brewers with short positions. Brewers covered shorts for 2020, 2021 and 2022 barley, and forecasts point to stable or firmer markets.
The report also notes France, Canada and others sold feed and malting barley to China after China imposed tariffs on Australian barley.
Brewers buying forward and forecasts for firmer markets signal continued upward pressure on barley prices, particularly as old-crop supplies tighten.
inside.beerinside GetränkeDec 2, 2020Not 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.
