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China's increased demand for Canadian, French and Ukrainian barley has created a two-speed Black Sea barley market, according to Soufflet's chief executive. Ukrainian barley eligible for China traded about $5/t above Russian barley as Australian barley was shut out by Chinese tariffs.
Only a few origins, including Ukraine, Canada and France, hold the phytosanitary documentation China requires.
Chinese buying is pulling barley toward origins with the right certification, lifting prices for eligible Black Sea and French supplies. Feed buyers outside that channel face relatively cheaper but less reliable barley.
graincentral.comLiz WellsAug 3, 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.
