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Grain Brokers' weekly report says Saudi Arabia's SAGO bought 1.02 million tonnes of barley for January and February delivery at an average US$266.83 CFR, up about US$6 from the prior tender. Australia was not competitive, and Argentine barley was the cheapest origin, while the USDA's November WASDE was also highlighted.
Saudi demand supports world barley prices, and Argentina's cheapest offers mean Australian barley is priced out of this tender, shifting export flows.
grainbrokers.com.auNov 13, 2018Not 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.
