By FWi staff

OFFICIALS at the Home-Grown Cereals Authority say intervention barley offers this season are now likely to reach 1.3 million tonnes.

Submissions currently total more than 1.2m tonnes, but the pace of new offers has slowed considerably over the past week.

On the open market, barley is trading at about £69/ tonne. But barley futures continue to fall in value – despite Fridays weakening of Sterling to DM3.06 against the Deutschmark.

May futures were down 50p to £73.00/ tonne. New-crop contracts eased 25p to end trading at £73.25 (September), £75.25 (November), £77.25 (January 1999), £79.25 (March 1999), and £81.25 (May).