“Price volatility has continued in agricultural markets in recent weeks due to severe heat stress and production concerns to corn and soybean crops in the U.S.,” said AWB Richard Williams said. “This has also been combined with drought in parts of the Black Sea region, which has impacted spring cereal crops and further cuts to production have been announced in the last two weeks.
“The cuts to supply from these two regions has made the Australian crop and forecasted production a key indicator for world price direction for wheat and barley going forward.
“Barley prices will be heavily influenced by the Australian weather outlook and final crop sizes for the coming harvest.”
