World: USDA reduces forecasts for world barley trade, production in 2018/19
USDA in its January report reduced its forecast for the 2018/19 barley trade to 27.455 mln tonnes from 27.755 mln in December 2018.
Export forecast is down for Australia (-300 thousand tonnes to 5.4 mln tonnes on smaller barley crop), whereas import forecast is down for China (-300 thousand too, at 9.2 mln tonnes, reflecting smaller supplies in exporting countries).
Global barley production forecast is down at 140.724 mln tonnes vs. 141.324 mln in December and 144.013 mln tonnes in 2017/18. Forecast has been reduced for the EU (56.95 mln vs. 57.35 mln tonnes in last month’s forecast) and Australia (7.3 mln tonnes vs. 7.4 mln).
World barley consumption is expected to total 142.581 mln tonnes in 2018/19 versus 142.673 mln tonnes forecast in December and 147.776 mln tonnes in 2017/18.
Ending stocks of barley are seen at 17.429 mln tonnes vs. 17.702 mln tonnes last month and 19.286 mln tonnes last season, the USDA analysts said.
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