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Saudi Arabia's buyer purchased about 16 Panamax cargoes, close to one million tonnes of barley, at an average US$243.47/t cost and freight for April to May shipment. The price was US$26 above the previous tender and about 12% above the prior three-tender average.
The tender confirms that cheap barley origins have largely been exhausted, and the large volume and higher price support global barley values and China's competing demand.
graincentral.comHenry WellsFeb 20, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
