Australia: ABB’s 2006/07 barley pools estimates ‘unchanged’
ABB Grain has reviewed gross estimates for its 2006/2007 barley pools and has left them unchanged, according to ABB’s media release, April 18.
The No.3 gross pool indicators remain at AU$258/tonne for malting 1 barley and AU$171/tonne for feed 1 barley.
ABB’s executive manager group marketing, Gary Spiel, said there was still some strong demand for feed barley.
“The strong Australian dollar, which last week reached a 17 year high against the US dollar, naturally has an impact on the value of grain when translated back into Australian currency,” Mr Spiel said.
“This impact has been further exacerbated by the increase in sea freight values.”
Mr Spiel said demand for malting barley from the Chinese has been stifled since their New Year, and they had shown a reluctance to buy at current world prices.
“They are using domestic barley where necessary to fill their demand,” he said. “However, the desire for malt and quality grain means that malting barley buyers are expected to eventually come back into the market.”
On April 2, ABB Grain closed its No.2 barley pools, for both malting and feed, and immediately opened the current No.3 pools, so as to continue receiving late deliveries of grain or transfers of warehoused grain.
ABB’s No.1 barley pools for both malting and feed closed on January 24.
Current gross estimates for SA 2006/2007 barley pools are as follows:
No. 3 malting (opened April 2) - AU$258/tonne
No. 3 feed (opened April 2) - AU$171/tonne
No. 2 malting (closed April 2) - AU$333-$338/t
No. 2 feed (closed April 2) - AU$229/t
No. 1 malting (closed January 24) - AU$338/t
No. 1 feed (closed January 24) - AU$246/t
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