Argentina: Barley crop forecast for 2022 remains at 5.24 mln tonnes

For crop 2022, Argentina’s barley crop forecast remains at 5.24 mln tonnes, RMI Analytics said in their latest report earlier this month.

Seeding commences later in May in northern areas, and under good moisture conditions.

Trade activity is rather low at the moment as export demand (China) is mostly absent, except for an Indian cargo which recently traded at USD400/tonne FOB. This leaves crop 2021 at a nearly sold-out position, with limited further barley available for trade with 83% of crop 2021 already sold by farmers, plus any trade sales putting the crop nearly at ‘sold out’.

For crop 2022, prices are firmer, and limited farmer interest in selling (particularly the selling of malting barley).

New crop wheat prices have recently moved higher and eliminated any advantage barley had previously held. Competition for planted area is increasing, the analysts reported.

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