Australia: AWB to close its 2010/11 season feed barley pools on February, 28

AWB said February, 24 it will close its 2010/11 season feed barley pools in all states at midnight on Monday, 28 February.

Estimated pool returns for all grades are steady, AWB said.

AWB General Manager Commodities, Mitch Morison, said the world barley market had been relatively quiet in recent weeks and was not being assisted at present by unrest in the Middle East.

“The Middle East, Saudi Arabia in particular, is a major feed barley buyer, although substantive demand is still to emerge from there and the general unrest in the region is making grain markets nervous,” Mr Morison said.

“Grain futures have shown quite a fall this week, although the underlying supply and demand picture for grain generally has not changed.

“As we have said previously, Australian barley is pricing competitively to various destinations at levels that support our pool estimates.

“We had closed out pool for malting barley in January but had kept it open for feed barley in most regions to assist those growers with late harvests, however it is now time for growers to commit to any late deliveries before we close off.

“I’d encourage any grower who wants to access our barley pool but cannot deliver by Monday to contact us promptly, as we do offer pool access contracts for later delivery,” Mr Morison said.

25 February, 2011