By Commodity News Service Canada
WINNIPEG, June 16 (CNS Canada) – Canadian barley exports during the current 2016/17 marketing year are forecast at 1.95 million tonnes, according to updated supply/demand tables from Agriculture and Agri-Food Canada. That would be up 125,000 tonnes from an earlier estimate. Exports for 2017/18 were also 125,000 tonnes higher than the May estimate, at 2.00 million.
Domestic barley usage was left unchanged from May, with ending stocks forecast at 2.125 million tonnes for 2016/17 and 1.40 million for 2017/18.
Looking at the international market, Agriculture Canada’s market analysis division said world feed barley prices were still holding a premium over corn, but should start to soften as harvest activity in the Northern Hemisphere approaches and new crop supplies become available.
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Ukraine has exported 5.25 million tonnes of barley during the crop-year-to-date, which is already up 19 per cent from the entire previous crop year, according to a report from UkrAgroConsult. Key export markets included Libya and the European Union.
Corn futures at the Chicago Board of Trade were up by three to four cents per bushel on Friday, as speculative fund buying and the continued rally in wheat provided support. However, improving weather conditions across much of the US Midwest limited the upside ahead of the weekend.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$179 to C$183 per tonne range as of June 9, which was down by about two dollars per bushel on the top end compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were down by as much as six dollars per bushel, at C$194 to C$198 per tonne in Lethbridge.
