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South Australian barley traded at about $300 a tonne at Outer Harbour and has stayed within $5/t of that level for a month. Over the same period, US December corn futures fell about 5%, while barley fell 1.6%.
Barley is being supported by historically tight global stocks-to-use.
Barley is holding up better than corn, so feed buyers face little near-term price relief. Tight global stocks limit downside unless corn pressure spreads to barley.
stockjournal.com.auEd Scamps, Cloudbreak Grain MarketingAug 16, 2024Not 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.
