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Australia is expected to exhaust its exportable barley surplus within two months, after about 90% has already been sold. Saudi Arabia replaced China as the main buyer following China's punitive import duty, taking 2.1 million tonnes in the first four months of the marketing year.
That volume was almost double the five-year average for the period.
Rapid depletion of Australian barley export supplies tightens the global feed barley market and supports prices. Buyers may need to source from other origins once Australian supplies run out.
fastmarkets.comMasha BelikovaMay 21, 2021Not 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.
