Canada: Agriculture and Agri-Food Canada, published new outlook for barley on April 1, 2004. For 2003-04, barley exports are forecast at 2.4 Mt, versus 0.9 Mt in 2002-03. Carry-out stocks of barley are expected to increase by 60%, to 2.3 Mt. For 2004-05, barley production is forecast to decrease slightly, as higher yields are more than offset by lower area. Total supplies are expected to rise by 5%. Domestic use of barley is forecast to increase due to higher feed demand. Malting barley exports are expected to increase due mainly to stronger demand from China. Feed barley exports are forecast to decrease as a result of stronger competition from Europe and lower overseas prices. Total exports are expected to remain at 2.4 Mt. Carry-out stocks are projected to rise by 9% from 2003-04 to 2.5 Mt. Off-Board prices are forecast to average $130/t for No.1 CW Feed, the same as for 2003-04. The March CWB PRO for No. 1 CW Feed is $132/t, $27/t below 2003-04. The March CWB PRO for Special Select Two Row designated barley is $182/t, versus $198/t for 2003-04.

07 April, 2004