World: Barley supply forecast reduced on declining crop expectations

The declining world barley supply continues, with a reduction to 138 mln tonnes, down from 138.7 mln tonnes as per the previous forecast in late July, RMI Analytics said in their early August report.

The EU-27 and UK barley production forecast is down 0.1 mln tonnes on slightly lower UK yields, and a reduced view to Denmark and Sweden yield potential.

Canada crop forecast is reduced 1 mln tonnes as the drought impacts across the southern Pariries have reduced yield potential.

Argentina crop forecast is increased 0.1 mln tonnes to 4.6 mln due to very good, early crop development.

Australia’s crop is raised 0.2 mln tonnes to 10.8 mln on ongoing rain across most key regions.

The further reduced global production estimate also brings down ending stocks which were already the lowest in over ten years. An additional concern is the continued reduction in availability for quality malting (two-row) in both Canada and Denmark and Sweden.

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