Argentina: Barley crop forecast unchanged at 5.2 mln tonnes

The Argentina barley crop continues to develop very well, supported by further rains, particularly in the east/north-east regions which needed moisture. The continued favourable crop development provides further confidence in its forecast at 5.2 mln tonnes, and aligns with the trade�s view of 5.0-5.2 mln, but parts of the south-east need rain to finish the crop and secure yields, RMI Analytics said in their latest report.

Brazil�s harvest is kicking off and moisture levels are expected to be slightly above normal (as rain has continued).

Argentina�s malting barley FOB prices are steady, while Feed/FAQ barley is higher in alignment with global prices. Buyers have lower price ideas but farmer selling remains very low which is expected to remain until harvest. Farmer pricing (FAS) is up (sharply higher for feed barley) with short covering for previous old crop sales adding volatility.