{"id":6873,"date":"2023-07-07T15:39:00","date_gmt":"2023-07-07T21:39:00","guid":{"rendered":"https:\/\/cmbtc.com\/?p=6873"},"modified":"2024-02-26T15:41:38","modified_gmt":"2024-02-26T21:41:38","slug":"barley-market-perspectives-2","status":"publish","type":"post","link":"https:\/\/cmbtc.com\/barley-market-perspectives-2\/","title":{"rendered":"Barley Market Perspectives"},"content":{"rendered":"
July 7, 2023<\/p>\n
HIGHLIGHTS<\/strong><\/p>\n Seeded area of Canadian barley<\/strong> for 2023 was reported by StatsCan at 7.32 mln acres, up 4% from last year<\/strong>\u2019s 7.04 mln acres and in line with the 5-year average acreage. Acreage gains were led by Alberta, with an 8% increase while Saskatchewan plantings were only 1% larger than last year.<\/p>\n The latest crop ratings for Saskatchewan and Alberta show sizable declines<\/strong> in recent weeks, raising concerns about 2023 yield potential. Conditions are quite variable within western Canada, with the most severe problems in the southern prairies. Dry conditions and hot weather also raise the possibility of higher protein in the barley crop.<\/p>\n Rain has fallen in northern Europe, but forecasts of the spring barley crop have been shrinking in recent weeks due to earlier dryness. According to Strat\u00e9gie Grains, spring barley production in 2023 could be down 18%<\/strong> from last year for the EU and UK. The winter barley crop is still expected to be 4% larger than last year.<\/p>\n The initial Australian barley crop estimate<\/strong> for 2023\/24 from ABARES came in at 9.93 mln tonnes, 30% less than last year<\/strong> and the smallest crop since 2018\/19. This was despite a 4% increase in seeded area, as El Ni\u00f1o is expected to reduce yields.<\/p>\n China imported 1.28 mln tonnes<\/strong> of barley in May, the highest monthly amount since November 2021. This barley came from seven different origins, with France, Argentina and Canada the three largest sources.<\/p>\n According to the Argentine Ag Ministry, seeded area of barley<\/strong> for the 2023\/24 marketing year is expected at 1.60 mln hectares, 11% less<\/strong> than the 1.80 mln in 2022\/23.<\/p>\n The USDA has estimated 2023 US seeded area of barley at 3.36 mln acres, 14% more than last year. The USDA is also reporting the condition of the 2023 crop is deteriorating.<\/p>\n