World: UK, France report important seeding progress for barley
There was an important seeding progress for barley in the UK and France between last Friday and Monday, since Tuesday it has been mostly very wet again, GrainCom reported on March 29.
Overall seeding in the EU is still delayed and the ideal window has closed.
It is notable that in recent days the main buying interest in the UK and in France came from the originators, and not so much from the trade or the industry. GrainCom analysts believe, though, that the brewing industry initiated some pricings of malt, and originators could not buy anything from the farmers, therefore they were looking for hedges in the open market. Prices went up before the long eastern holiday, which is going to be rather wet and cold in Northern Europe weekend.
Saudi SAGO feed barley tender result was friendly but not super bullish, and in consequence the market was mostly neglected this week in Europe. Prices in the Black Sea, Australia and Argentina remain supported.
In Australia, old crop barley continues to be tight with firm market prices. Weather conditions are still dry, some good moisture would be needed to start the seeding process in April/May.
In Argentina, export prices are getting uncompetitive both for malting and feed barley, local sources report.
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