EUROPE: Feed barley markets were dominated by offers from the Black Sea. Russia has harvested 17,5 Mill. tons of grains from 12 % of its grain acreage. The part of coarse grains, mainly barley, is about 4 Mill. tons. Ukrainian figures are: 16,9 Mill. tons of grains harvested of 50 % of the acreage. It includes 5,4 Mill. tons of barley, average yield so far is 2,66 tons/Ha. Frequent rains slow down harvesting, the Ukraine also reports lodging and heavy aftergrowth of weeds. Nevertheless analysts expect malting barley receivals amounting to 1 Mill. tons. Prices had tumbled down to below US $ 100,- C+F Saudi Arabia, but lately recovered to levels around US $ 120,- / 125,- C+F Mediterranean/Middle East. Barley purchases by Iran, Iraq, Jordan and Syria were much larger than forecast. Farmers and first hand in the Ukraine were no or reluctant sellers, which led to the strong price recovery. The government announced “intervention” purchases of 3 Mill. tons, mainly wheat, which may help to stabilize the whole grain market.

27 August, 2004