Argentina: Barley crop much better than expected, average estimate is 4.1 mln tonnes

Most Mercosur regions received needed rainfalls lately. Their crops of maize and soybeans look fair, which is essential for safeguarding world grain supplies, H. M. Gauger GmbH said in their February report.

Argentina’s barley crop came in much better than expected, an average guess is 4.1 mln tonnes.

So far farmers sold 1.0 mln tonnes of malting and 0.85 mln tonnes of feed barley; export registrations are 0.5 mln tonnes of malting and 1.1 mln tonnes of feed barley. Domestic demand is 1.1 mln tonnes.

Argentinean and Brazilian brewers are reluctant to buy, while the Chinese pick up much feed and FAQ barley. The small malting premium of US$10,-/20,- makes feed barley exports attractive.