USA: Barley production slightly higher but still outpaced by consumption

Idaho barley prices ranged were steady to 10 cents lower this week, according to Idaho Grain Market Report, February 15. USDA delayed the release of its weekly export sales report until Friday, due to weather issues and office closures earlier in the week.

USDA released their new long-term commodity baseline projections (through 2016/2017), showing U.S. barley acres holding steady at 3.5 million acres for the next decade.

World barley production is now projected only slightly higher this year at 138.3 MMT, with consumption outpacing production by 7 MMT (second consecutive year). US production fell 15% to a historic low at 3.92 MMT.

•World barley supplies are estimated 2% lower at 167.1 MMT, while US supplies are 15% lower at 6.27 MMT.
•World barley trade is expected to fall 14% to 15.3 MMT. US exports are projected 29% higher at 0.5 MMT.
•World barley consumption is pegged to increase 2% to 145.5 MMT, but US usage is expected to fall by 2% to 4.5 MMT.
•World barley carryover stocks are estimated to decline 25% to 21.6 MMT, while US carryout is projected to fall 32%to 1.6 MMT.

Strategie Grains is now projecting an EU barley crop of 61 MMT, up from last year’s 56 MMT, with 12 MMT of it projected to be malting versus 10.4 MMT last year. USDA cut their projection of Russian barley exports this month by .5 MMT to 2.0 MMT. Japanese Ministry of Agriculture announced their first SBS barley import tender for the new marketing year 2007 will be held February 28 for a total of 172 TMT of feed barley.

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