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Saudi Arabia bought about 1.5 Mt of feed barley in its latest tender for July and August arrival at an average US$229/t cost and freight, roughly $20/t below its April purchase. The lower price reflected discounted new-crop supply from Europe and the Black Sea against high current-crop prices.
Saudi demand is large, and cheaper new-crop offers pull world feed barley prices lower ahead of the Northern Hemisphere harvest.
graincentral.comHenry WellsMay 22, 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.
