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Demand prices for barley remain low, despite another decrease in the global production forecast

Published Sep 15, 2023

Tridge summary

The USDA has reduced its forecast for world barley production in the September report, with Canada's harvest estimate decreasing but Russia's increasing. The forecast for world barley exports in 2023/24 was also reduced, specifically for Canada, but increased for Russia. The estimate for world final barley stocks was reduced, and the prices for both fodder barley and malting barley have decreased due to low demand.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the September report, USDA experts reduced the forecast of world barley production by 0.75 million tons to 141.9 million tons (151.7 million tons in FY 2022/23), in particular for Canada - by 1.2 to 8 million tons, while increased the harvest estimate for the Russian Federation by 0.4 to 19.5 (21.5) million tons. The forecast for the world export of barley in 2023/24 MR was reduced by 0.1 to 26.4 (29.9) million tons, in particular for Canada - by 0.3 to 2.3 million tons, but increased for the Russian Federation - by 0.2 up to 4.7 (4.5) million tons. The estimate of the world final stocks of barley was reduced by 0.2 to 17.4 (19.2) million tons, which will be significantly lower than the 5-year average. Forecasts for Ukraine remained unchanged. This year, the country collected 5.8 million tons of barley (compared to 5.5 million tons last year), of which 2.5 million tons can be exported, as in the previous season. In 2023/24 MR, as of September 8, Ukraine exported 528,000 tons of ...
Source: Graintrade
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