Australia: Estimated pool returns for 2010/11 barley pools remain steady - AWB

Estimated pool returns (EPRs) for the AWB 2010/11 season barley pools remain steady, BA1 barley grade EPR remains unchanged at A$350 a tonne in the AWB Western Pool, A$331 a tonne in the South Australian Pool and A$327 a tonne in the East Coast Pool (FOB, exclusive GST), AWB announced on July, 22.

CEO Jon White said new season global barley values have remained well supported as values in the Ukraine increase due to a wet harvest causing export delays.

‘However, while global barley prices remain steady, a strong Australian dollar and decreasing feed wheat values in Australia have weighed on old crop Australian barley values,” Mr White said.

“New crop barley values have also been supported over past two weeks by a classic US weather driven market rally.

“Hot weather in the US is putting the corn yield at risk, and as a result tightening what is already a historically tight stocks to use ratio.

“Corn is driving the entire grain complex and all analysts are watching the heat and yield to try and determine the US corn balance sheet carry out,” Mr White said.

27 July, 2011