USA: 2006 barley balance sheet cut by 7 million bushels to 183 million bushels

Local barley prices ranged from unchanged to ten cents lower the week ended August 20, Idaho Barley Commission released August 17.

USDA reported barley exports of 0.5 thousand metric tons for Mexico. No sales were reported for the week.

USDA made a few adjustments to the U.S. barley balance sheet this month: they cut 2006 production by 7 million bushels (152.407 t) to 183 million bushels (3.9 million t), lowered domestic feed usage by 5 million bushels (108,862 t) to 40 million bushels (870,900 t) and cut U.S. ending stocks by 2 million bushels (45,540 t) to 96 million bushels (2.09 million t). World barley production was cut by 0.7 million metric tons this month due to smaller crops in the U.S., Canada and E.U., partially offset by a larger crop in the Ukraine.

World barley production is projected to increase by 4% to 142.9 million t, with consumption outpacing production for the second consecutive year. US production is pegged to decline 14% to 3.98 million t.

World barley supplies are estimated to decline slightly to 171.2 million t, while US supplies are now pegged to decline 14% to 6.3 million t.

World barley trade is expected to fall 4% to 17.4. US exports are projected to remain unchanged at 0.4 million t.

World barley consumption is pegged to increase 2% to 146.2 million t, but US usage is expected to fall by 7% to 4.2 million t.

World barley carryover stocks are estimated to decline 12% to 24.9 million t. US carryout is projected to fall 11% to 2.1 million t.

USDA made several changes in barley production and export estimates for major barley export competitors, including: cut EU barley production by 1.1 million t to 55.9 million t and cut exports by 0.3 million t to 3.0 million t; cut Canadian barley production by 0.3 million t to 10.9 million t but left exports unchanged at 1.5 million t; raised Ukrainian barley production by 0.8 million t to 11.5 million t and raised exports by 0.3 million t to a record 4.6 million t.

1metric ton (t) = 45.9296 bushels (bu)

23 August, 2006