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Saudi Arabia's SAGO bought 725,000 tonnes of optional-origin barley for October and first-half November arrival, with nine cargoes to Red Sea ports and three to Dammam. Glencore won six of the Red Sea cargoes, and COFCO took the Gulf cargoes.
Red Sea values were about $208-212/t cost and freight.
A large state tender supports Saudi import demand and firms barley export values, with Black Sea and EU origins most competitive for Red Sea delivery.
graincentral.comHenry WellsJul 21, 2020Not 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.
