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A Saudi Arabian barley tender bought 1.02 Mt at an average US$266.83/t CFR, with all but one cargo going to Glencore. Australia was not in the tender, and the USDA's supply and demand estimates were also released that week.
The tender price and Australia's exclusion signal weak export competitiveness for Australian barley, with Argentina likely supplying much of the volume.
queenslandcountrylife.com.auPeter McMeekin, Grain Brokers AustraliaNov 12, 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.
