25 August, 2024

Argentina: Barley crop forecast up on improved weather conditions

Good rain has fallen across all Buenos Aires Province, improving further the early crop development and with more rain in the forecast. As a result, under this improved situation, RMI Analytics have increased their forecast for Argentina barley crop by 0.2 mln tonnes, to 5.2 mln.

Good conditions are seen across the continent, with moisture received in Chile, Uruguay, and Brazil (although quite heavy rainfall in the south). At present, it is an optimistic early view to the region’s barley crops. Farmer selling is almost non-existent as some traders try to cover August vessel executions.

Export FOB prices are down slightly in a quiet market; however, there is some lingering old crop demand as the crop year winds down. As the remaining barley sits on farm, including silo bags, quality is more difficult to define at this time of year. Traders are pushing for a small old-crop premium for malting barley (buyers’ ideas are lower).

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