The Canadian Wheat Board’s executive director for marketing is telling farmers to ignore reports in grain market newsletters that the board has pulled out of the feed barley market.
Adrian Measner said he has read reports that the sales price for barley is less than the board’s initial payment, and that the board won’t accept many more deliveries of the crop.
“All of that is very wrong,” said Measner. The board has been selling feed barley to Japan, Saudi Arabia, South Korea and Iran.
“The current sales values are above the initial payment, and we’re selling all the barley that farmers are offering to us.”
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However, Measner said the board has taken a conservative position in the world market, which has ample supplies of barley.
“If we get very aggressive out there, then the other exporters get aggressive, and all you do is you keep ratcheting the price down,” he said.
Measner said demand for barley is fair, and prices have stabilized and risen over the past month.
He said Saudi Arabia, the largest barley importer, was in the market last week to buy 1.2 million tonnes.
