Australia: Pool estimates unchanged but barley interest resumes

Cautious interest in South Australian barley prices has again been shown overseas, as ABB Grain reviewed its gross estimates for its 2006/2007 and 2005/2006 pools and has left them unchanged, ABB announced in a press release, May 24.

ABB’s executive manager, group marketing, Gary Spiel said the No.3 gross pool indicators for 2006/2007 pools remain at AU$258/tonne for malting 1 barley and feed 1 barley remains at AU$171/tonne.

“In malting barley, we are beginning to see some buying enquiries, however maltsters are still nervous about the high price of malt,” Mr Spiel said.

“Buyers are still examining different ways of getting through to the (northern hemisphere) new crop however new crop supply and demand still looks tight.

“As for feed barley, there has been limited demand but we’re still seeing some price enquiries; set against that will still be a tight period between now and the new northern crop coming in.”

Mr Spiel said that foreign exchange was still high, although the Aussie dollar had eased back a bit last week.

“On ocean freight rates, there hasn’t been much change” he said. “But there have been some signs that Panamax tonnage in the Pacific is building up, which could create some downward movement.

“Similarly, the Indian monsoon season is not that far away, which also could have an easing effect in the longer term, as it becomes harder to load or discharge many cargoes.”

Current gross estimates for SA 2005/2006 and 2006/2007 barley pools are:

South Australian barley pools

Season 2005/2006

No. 1 malting (closed Jan 24, 2006) - AU$225/tonne *

No. 1 feed (closed Jan 24, 2006) - AU$165/tonne *

No.2 malting (opened Jan 24, 2006) - AU$207/tonne

No.2 feed (opened Jan 24, 2006) - AU $152/tonne


Season 2006/2007

No. 1 malting (closed Jan. 24, 2007) - AU $338/t

No. 1 feed (closed Jan. 24, 2007) - AU $246/t

No. 2 malting (closed April 2, 2007) - AU $333- AU $338/t

No. 2 feed (closed April 2, 2007) - AU $229/t

No. 3 malting (opened April 2, 2007) - AU $258/tonne

No. 3 feed (opened April 2, 2007) - AU $171/tonne

* All prices quoted are for No.1 grade malting and feed grain.

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