North America: Canada barley production forecast reduced due to increasing dryness
North America’s barley crop 2023 has undergone a wide range of weather impacts after a prolonged period of dryness and partially benefitting from mixed levels of rainfall. Crop conditions are this quite varied, RMI Analytics said in their late July report.
The region’s crop conditions remain problematic despite the substantial rains received in many areas. In particular, the US Midwest and southern Alberta are experiencing severe to extreme drought conditions.
Canadian barley production forecast is reduced to 9.14 mln tonnes, down from 9.87 mln, due to increasing dryness reducing yields.
A strong feed complex is pushing feed barley values higher, while crop concerns and global market factors are supporting malting barley prices.
China’s barley imports in June were a strong 1.12 mln tonnes, with Canada supplying 280k (25%) of the total volumes. Until the Australia barley tariff is officially resolved, Canada remains a key origin for China, but competing with domestic prices is a very difficult proposition.
The spike in US corn prices has led to a corresponding move higher for domestic feed barley prices in Alberta for both old and new crop.
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