North America: Weather mostly favourable to completing barley harvest in region, production forecast unchanged

Over the past month, the weather has been mostly favourable to completing the barley harvest in Canada and the US. Focus now shifts to crop 2024 moisture conditions, RMI Analytics said in their latest report.

There are no changes to the analysts� Canada barley production estimate at 7.87 mln tonnes. In the US, production is steady at 3.88 mln tonnes and Mexico is just below 1 mln tonnes at 0.95 mln.

In Canada and the US, there are pockets of quality challenges (e.g. pre-germ) to be considered, the analysts said.

There are reports of higher proteins in Saskatchewan, while yields were slightly better in Alberta and with lower proteins as well. Maltsters and grain companies are focused on managing selections to fulfil their current needs with a considerable number of samples to still be reviewed (with a wide range of proteins reported).

Following a strong export program in crop 2022 (about 3 mln tonnes), crop 2023 exports are off to a slow start at the low end of past years. Local freight rates are up with trucks hard to find.

Prices are down slightly in a very quiet market and as the final quality is determined. Grain companies are executing sales to China and until quality is clear, remain reluctant to aggressively sell further. The lower trend for feed barley continues, and now with corn prices retreating from a recent move higher, US imported corn is CAD10 per tonne below feed barley.

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