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Saudi state buyer SAGO purchased 1.02 million tonnes of feed barley for February and March delivery at an average $216.62/t CFR, up $6.67 from its previous tender. USDA reduced its 2019/20 Saudi feed barley import forecast to 6 million tonnes, while IGC estimates record world barley output.
Strong Saudi demand supports international barley prices, though a lower USDA import forecast and record world output limit upside.
graintrade.com.uaNov 19, 2019Not 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.
