Canada: Barley export shipping pace on track to reach forecast 3.4 mln tonnes
The forecast for Canada’s barley crop 2022 is unchanged at 9.95 mln tonnes, with a strong export estimation at 3.4 mln tonnes with export shipping pace on track to reach that target, RMI Analytics said in their latest report.
For crop 2023, the analysts forecast a small increase in planted area and an average yield leading to 10.26 mln tonnes. Exports in crop 2023 are reduced on the expectation the China/Australia trade issue is ultimately resolved.
Canadian barley prices are down slightly, driven in part by a strong domestic feed market supporting prices. Shipments to domestic maltsters are below normal, indicating possibly weak beer sales.
Feed barley prices are holding steady in the spot market, supported to a degree by firm imported corn values and still strong selling interest. However, the forward months (e.g. July/August) are being discounted.
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