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Australian exporters won the Saudi Arabian Grain Organisation's feed barley tender, as Saudi Arabia reportedly moves to replace state grain tenders with private importers. Private buyers have reportedly already committed about 500,000 tonnes of Australian barley in the current marketing year.
Saudi Arabia is the world's largest barley importer, and a shift to private buyers could change purchase timing and volumes, adding demand for Australian barley and supporting export prices.
dairyreporter.comJim CornallNov 5, 2020
grainbrokers.com.auGBANov 20, 2020Not enough comparable past events yet for a historical read.
After 49 past bearish trade events, Milk (Class III) moved a median -0.3% over 5 sessions (39% higher; middle half -4.7% to +1.5%), and -0.4% over 20.
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.
