North America: Canadian barley crop to most likely attain 10 mln tonnes this year - analysts
Some improvement in soil moisture was achieved across most major barley regions in Canada over the past 14 days. One exception is in Alberta, which missed much of the rain, RMI Analytics said in its latest report.
Across Canada, seeding has advanced quickly and takes progress to near normal:
Alberta: barley 96% seeded, all crops 97% vs. 96% normal;
Saskatchewan: barley 95% seeded, all crops 68% vs. 76% normal.
The Canadian crop is now established and provides some confidence for attaining a crop of 10 mln tonnes. In the US, the weather is reasonably good with ratings above 2022.
On the back of good planting progress and a general lack of trade activity, Canadian barley prices are unchanged but the market is watching closely the developments in Europe.
Also, Canada and Saudi Arabia are resolving diplomatic issues dating back to 2018, which re-opens the door for feed barley supply to Saudi.
In the domestic feed barley market prices are up slightly, while the steep discount for new crop (September-December shipments) remains in place. US corn is competitive for the upcoming autumn and winter, with considerable imports expected.
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