Argentina: Nearly 95% of barley planted despite some early rain delays

Barley planting progress continues to advance in Argentina, with nearly 95% planted, despite some early rain delays. Cooler temperatures slowed initial emergence, but warmer weather is forecast over the next 7-10 days, RMI Analytics said in their late July report.

With the drop in wheat prices, the expectation is barley retains area. As a result, RMI’s barley crop’24 estimate remains at 5.0 mln tonnes.

Farmers are not selling malting barley and very little feed/FAQ in either crop’23 or ‘24, as corn harvest and winter crop planting occupies farmers. Exports are expected to drop as global trade reduces.

In a very quiet market, price action is limited, with feed/FAQ showing some minor weakness and malting barley holding steady to up slightly, as farmers offer virtually no liquidity. The trade is reluctant to ‘sell short’ in a market dynamic, where farmers’ selling is mostly absent.