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Saudi Arabia is likely to import 8 million tonnes of barley this season, down from 9.1 million tonnes last year, according to the state grain buyer's board. Buyers are substituting higher corn imports as barley prices have risen relative to wheat and feed supplies are smaller.
Lower Saudi barley demand offsets some tightness, but USDA sees global barley stocks at 18.6 million tonnes, the lowest since 1983/84, which keeps underlying barley prices firm and shifts demand toward corn.
zmp.deOct 4, 2017Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
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.
