This is the noun road combined with a pictograph of the awns of a barley plant. It is an ideograph for roadside or wayside barley. Hence, it translates as 'wild barley'.
Illustrative Text Reference:
Mohenjo-daro: Seal: M-863 a: Sayid Ghulam Mustafa Shah and Asko Parpola, 1991: Corpus of Indus Seals and Inscriptions: Volume 2: Page 79: Collections in Pakistan: Suomalainen Tiedeakatemia.
Comments:
There is only one extant example of this Indus sign.
This is Mahadevan's sign number 291, which I have redrawn to better reflect the original.
Image Credit:
Wild Barley: Lynn Fawcett, 2017.