March 2024 Prospective Plantings Report projects 17% decline in barley acreage for 2024 while stocks are up from this time last year
The USDA National Agricultural Statistics Service (NASS) released their prospective plantings and grain stocks reports today which highlighted a 17% projected drop in acreage in 2024 over 2023 with anticipated planted acres declining in each of the three largest growing states (Montana, Idaho, and North Dakota). Barley stocks in all positions have increased over last year.
You can access both reports at the AMBA website.
Stocks:
Barley stocks in all positions on March 1, 2024 totaled 112 million bushels, up 26 percent from March 1, 2023. On-farm stocks are estimated at 55.4 million bushels, 51 percent above a year ago. Off-farm stocks, at 56.2 million bushels, are 8 percent above March 2023. The December 2023 - February 2024 indicated disappearance totaled 30.2 million bushels, 39 percent below the same period a year earlier.
Prospective Plantings:
Producers seeded 2.57 million acres of barley for the 2024 crop year, down 17 percent from the previous year. In Montana, the largest barley State, acreage is expected to decrease by 20 percent, from last year. Record low acreage is expected in Colorado, Idaho, Maryland, and Oregon.
