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South Australian barley prices pushed higher in the past week, reaching $320 a tonne for old and new crop. Lacklustre rainfall and a poor May outlook are driving graziers to buy feed grain as a pasture substitute, while domestic barley stocks are dwindling.
Dry conditions and shrinking local holdings support feed grain demand and prices in South Australia, and a late season break would only add to the upward pressure.
stockjournal.com.auEd Scamps, Cloudbreak Grain MarketingMay 10, 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.
