08 May, 2007

Australia: Australian barley markets are calm

In April Australia recorded rainfalls between 5 and 25 mm in the grain areas, virtually all of it in the past 7 days. The rains were very welcome as a break of the draught period and enabled first plantings of barley. Follow-up rain is needed, the more so as the long dryness had left seedbeds in a very poor shape.

Long-term weather forecasts should always be taken with great caution, but the Australian May-July forecast does not look good. The ABARE crop estimate of 9 million tonnes of barley must be hoped for, but is far from certain at this time. Markets are calm, Australian malting barley quotes of US$ 320,- CIF China stir no reaction.

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