11 May, 2024

World: Barley crop forecast slightly down on weather concerns

The current agricultural world remains firm in a weather market, with a wide range of impacts which makes forecasting crop levels, including barley, quite dynamic, RMI Analytics said in their latest report.

The analysts’ global barley crop 2024 forecast has decreased slightly by 0.2 mln tonnes to 148.8 mln tonnes. This is the aggregate of a number of regional adjustments: Canada +0.3 mln tonnes, Australia +0.4 mln, Argentina +0.2 mln tonnes, USA minus 0.4 mln, Ukraine minus 0.3 mln, and Russia minus 0.4 mln tonnes. These impacts are the result of a wide range in conditions across key barley barley regions: very dry conditions and frost (e.g. Russia), wet conditions in Western Europe, and improved soil moistures in Canada, parts of Australia, and Argentina.

Although the change in production forecast is minor, the direction is nonetheless downward. With certainty there are some areas for concern, but at the same time it remains very early in the crop 2024 production cycle. Still, concern is rightfully elevated currently, the analysts reported.

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