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Saudi Arabia's grain agency SAGO bought 13 panamax cargoes of feed barley, about 780,000 tonnes, for arrival mid-October to mid-December at a average cost and freight of US$206.76/t. Bunge reportedly secured more than half the volume, and Dammam deliveries carry a $10-15/t premium over Red Sea ports amid Strait of Hormuz tensions.
Large Saudi barley purchases support global barley export demand, while Hormuz-related shipping premiums raise delivered costs into the Gulf. Prices are still about 25% below last year, so the net price pressure is modest.
graincentral.comHenry WellsAug 29, 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.
