World: Barley trade, production forecasts reduced in USDA’s July report

World barley trade forecast for 2023-24 is slightly down, at 27.171 mln tonnes this month, versus 27.671 mln in USDA’s June report.

The forecast for global barley trade in 2022-23 is 29.381 mln tonnes.

Argentina’s export forecast for 2023-24 is increased to 3.4 mln tonnes from the previous forecast of 2.6 mln tonnes (2.4 mln in 2022-23). The forecast for the EU is reduced to 6.5 mln tonnes from 7.1 mln (6.5 mln in 2022-23). Ukraine barley export forecast is 1.8 mln tonnes versus 2.5 mln in the May forecast and 2.5 mln in 2022-23.

Global production forecast is down this month too, at 145.755 mln tonnes versus 147.98 mln in the May report and 151.893 mln in 2022-23. Crop forecasts are up for Argentina (5.3 mln tonnes vs 4.5 mln tonnes in the previous report, 4.5 mln tonnes in 2022-23), and Ukraine (5.7 mln tonnes vs. 6.4 and 6.1 mln tonnes, respectively) and down for the EU (50.4 mln tonnes vs. 52.85 forecast in May for 2023-24 and 51.789 mln tonnes in 2022-23).

World barley consumption is seen at 146.901 mln tonnes (vs. 148.849 mln forecast previousl and 151.41 mln in 2022-23) and endings stocks are forecast at 17.631 mln tonnes (18.166 and 18.777 mln tonnes, respectively).

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