Weekly Canadian barley exports hit their second-highest level of the crop-year-to-date, suggesting the Prairie cupboards are not quite bare yet.
According to the latest Canadian Grain Commission data, Canada exported 175,500 tonnes of barley during the week ended May 23. That compares with the average of the previous five weeks of 112,000 tonnes and represents the largest single week total since just over 200,000 tonnes were shipped in the last week of October 2020.
Total barley exports of 3.53 million tonnes through week 42 of the current marketing year are roughly double what moved during the same timeframe the previous year. China has been the largest customer, accounting for the bulk of the trade.
Barley stocks in Canada were sitting at 2.81 million tonnes at the end of March, according to Statistics Canada data. With about 1 million tonnes of exports over the past two months and the domestic livestock sector still chewing through supplies as well, 2020-21 ending stocks could end up even tighter than the already historically tight 500,000 tonnes forecast by Agriculture Canada.
Domestic livestock feeders are generally thought to be covered for the time being and are banking on a large Prairie crop in 2021-22 to help replenish those tight stocks. Barley planted area is expected to be up on the year, but weather conditions through the growing season will determine if the supply situation remains tight.
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