Canada: Barley ending stocks forecast up due to reduction in demand
With Canada barley crop 2023 at 8.85 mln tonnes, down 1.1 mln tonnes from crop 2022, the reduction in demand (domestic and export) has led to an increase in ending stocks, RMI Analytics said in their late January report.
A major concern looking forward toward crop 2024 is the low soil moisture profile, and rain/snowfall continues to miss the key barley regions.
Canadian barley prices are unchanged for malting, while down for feed quality. Domestically, feed barley continues to drift lower, driven by lower US corn prices and weaker demand. This drop in feed values is putting Canada in a more competitive place in global markets.
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