30 June, 2006

World: Barley markets were generally weaker in June, according to IGC

Barley markets were generally weaker in June, with EU and Black Sea values down on slow export demand and a mostly favourable production outlook, International Grains Council (IGC) commented in its Grain Market Report on June 29.

2006 barley production is forecast by IGC at 147 million tonnes, 1 million tonnes down from last month, but 7 million tonnes up from 2005. Reductions in the EU and Canada more than offset an increase in Russia. The consumption forecast is unchanged at 147 million tonnes (143 million tonnes). Lower production and better malting quality will reduce barley feeding in Canada, but feed demand is strengthening in Near East Asia.

World barley trade is projected at 17.4 million tonnes, 0.1 million tonnes above the previous forecast but down 0.3m from 2005/06. Russia’s export projection is increased on a better crop estimate but Black Sea competition may reduce EU sales. Forecast barley stocks at the end of 2006/07 are increased by 0.7 million tonnes, to 28.2 million tonnes (0.3 million tonnes more than a year ago), because of an increase in the EU.

Main market events since 25 May 2006 up to June 29:
On 16 June Japan bought 232,114 t of feed barley in SBS tender.
On June 23 Tunisia bought 0.1m t of Black Sea feed barley
On June 24 EU opened 2006/07 export tenders for open market grains (2m t wheat, 1m t barley)

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