World: The latest barley purchases and tenders
Japan has purchased 219,000 metric tonnes of feed barley for Mar-May 2006 under the SBS system, media sources posted on March 16. According to unconfirmed reports, the origin was Australian at a price of slightly under $132.
Tenders: Japan (Food Agency), on March 16, 12,000 metric tonnes of Canadian malting barley for May. Sale tender: Turkey, Mar 21st, 150,000 metric tonnes of white barley for Apr-May.
Ukraine Government has stated they will introduce export licences to regulate the exports - lets hope they do not want to be the "exporter"! – analysts commented.
The trade today is likely to bid for small amount positive refunds and Brussels will again reject all bids. Intervention stocks, about 435kt still available, bidding can also be too cheap for Brussels to accept and so another week of no exports. EU replacement price equates about $136.75 basis Apr.
For Saudi Arabia cheapest quotes now are about $150 for optional origin and Australian barley should be in mid $160s. The market continues on hold with cheapest origin, EU, price movement just basis the Dollar as domestic prices remain unchanged. Export demand into the Mediterranean is slow and even Saudi Arabia is unlikely to buy. Reports indicate their local market is decreasing, stocks are very high and there are even vessels waiting to discharge (some from EU, Black Sea, Australia, Canada) which in all is not encouraging for the barley market.
Australian farmers are reluctant sellers but will have to come to the market soon and time is running out with the Northern Hemisphere crop getting closer. We still need to see the Black Sea spring planting before any idea of the export potential from this region for new crop but EU will have plenty of stocks either from intervention and/or free market. Based a €zero refund for new crop the replacement for Aug equates under $130 which shows about a $6 discount to old crop.
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