Global 2024/25 barley production was cut by 1.4 MMT to 142.9 MMT. Forecast for russia was decreased by 0.8 MMT to 17.5 MMT, and for the EU – by 0.6 MMT to 50.9 MMT. In turn, Argentina’s crop was upped slightly by 0.2 MMT to 4.9 MMT.

Lower harvests resulted in downward revision of barley 2024/25 export prospect for russia (-0.6 MMT to 3.4 MMT), and the EU (-0.2 MMT to 6.3 MMT), which were only partially offset by upward revision of Argentina prospects – by 0.3 MMT to 3.5 MMT. Thus, the global export is seen 0.6 MMT lower m/m at 27.0 MMT.

For importers, forecast for Iran was reduced by 0.6 MMT to 1.5 MMT, and for Jordan – by 0.1 MMT to 1 MMT.

Global barley ending stocks for 2024/25 MY is seen at 17.6 MMT, up slightly by 140 KMT m/m.