North America: Recent rains offer much needed relief to barley growers
Recent rains across North America’s key barley regions have offered much-needed relief. Alberta’s soil moisture levels remain at deficit and these rains will improve the situation, RMI Analytics said in their latest report.
Crop ratings in Alberta were declining prior to these rains, with barley rated 36% Good and Excellent, with all crops 41% Good and Excellent versus 76% five-year average. Saskatchewan barley at 82% Good and Excellent is looking good.
In the US, 58% is rated Good and Excellent, down from 65% a week earlier. Drought conditions in the US are expanding, mainly in key corn regions.
Canada’s barley production forecast remains at 9.87 mln tonnes but could increase with conditions improving, the analysts said.
Canadian barley prices are firmer despite the improving crop situation, as the North American market is currently being driven by the strong feed complex and developments in Europe. Export barley volumes in April were down (189 thousand tonnes), the lowest since August 2022. This adds to the uncertainty about future export volumes with China to reopen Australia barley supply.
Domestic feed barley prices are up slightly as US corn prices are less competitive, due to the drought concerns in the US Midwest increasing prices.
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