Australia: ABB Grain Ltd’s managing director Michael Iwaniw announced on November 1 the gross pool indicators for the company’s Vic No.2 barley pool at $180-190/t for malting 1 barley and 150-160/t for feed 1 barley. These indicators equate to an estimated delivered Geelong price of $155-165/t for malting 1 barley and $125-135/t for feed 1 barley. Mr Iwaniw also announced significant increases in the value of ABB’s No.1 pool, which closed on 25 October. Mr Iwaniw said that the indicators for both pools were a result of the current direction of the Victorian domestic market.

“Growing conditions have been poor so far this season in Victoria. Forecast low production coupled with strong domestic demand, particularly for feed barley, has meant feed domestic prices have eclipsed export prices,” Mr Iwaniw said. “To obtain the best returns for growers this season ABB will be directing grain into the State’s domestic market; because of this our pool indicators have lifted to reflect domestic prices.”

Mr Iwaniw said that Sloop malting barley would attract a $5/t premium as had occurred in previous years.

The revised gross pool indicators for the No.1 pool are $182-192/t for malting 1 barley (an increase of $12/t) and $155-165/t for feed 1 barley (an increase of $20/t). This equates to an estimated delivered Geelong price of $157-167/t for malting 1 barley and $130-140/t for feed 1 barley.

Meanwhile, the gross harvest advance figures for ABB’s 2004/05 barley pools are now available.

03 November, 2004