Argentina: Barley crop development remains positive but more moisture is needed
Although Argentina’s barley crop development remains positive, with the crop estimated at 4.9 mln tonnes, further moisture is need, RMI Analytics said in their latest report published at the end of September.
Farmers are reluctant sellers at the moment but improved moisture conditions could trigger selling interest, the analysts said.
Barley prices continue to drift higher, in alignment with the world prices. The nation, however, remains a competitive origin for malting barley (excluding Australia).
Currency devaluation remains a risk to farmers, with a wide spread between the official and unofficial exchange rates, reducing farmers’ willingness to sell barley.
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