EU: EU Grains Management Committee rejecting bids to export free market barley
The EU Grains Management Committee rejected all bids to export free market barley in the week 41. According to Idaho Commission, they approved bids to export a total of 116.7 TMT of intervention barley stocks in week 41 at minimum selling prices ranging from 95.02 to 97.02 euros/MT.
They approved as well 6.2 TMT of intervention barley stocks be released for Spain at a min. selling price of 90.03 euros/MT. USDA lowered their Australian barley production estimate by 300 TMT this month to 7.2 MMT, which is still 3% higher than last year.
USDA also lowered Canadian barley production by 200 TMT this month to 12.1 MMT, which is 8% lower than last year. USDA raised their estimate of Moroccan barley imports by 200 TMT this month to 600 TMT – the second highest level in over a decade – because of strong domestic demand, poor pasture conditions and the temporary elimination of 35% barley import tariffs through December 2005.
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