North America: Barley crop forecast supported by good planting progress at 8.9 mln tonnes
Overall, barley planting progress has been good in Canada, and early moisture conditions improved, supporting RMI Analytics’ forecast for Canada’s crop at 8.9 mln tonnes, the analysts said in their latest report.
According to the USDA, U.S. planted barley area has decreased by 2%, yet there's a 9% rise in ending stocks, suggesting above average yields. Extensive rainfall in key North America Areas is a promising start.
Canada barley exports are up in recent months (e.g. China), but despite this uptick in demand, prices are steady, thanks to strong planting progress and continued weak demand for malting barley. The prices for domestic feed barley have decreased, as cattle feeders have secured their needs for the short-medium term.
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