Tuesday, 17 February, 1998

By FWi staff

CONFIRMED offers of barley into intervention will reach 600,000 tonnes by the end of today (Tuesday), according to Intervention Board officials this morning.

So far, about 550,000 tonnes of barley have been accepted into intervention and 115,000 tonnes delivered into store. The Intervention Board opens three additional silos at Snetterton and Bournemouth as traders predict that a total of 1m tonnes will be offered by the end of the season.

Ex-farm feed barley continues to trade at about £15 below the intervention price of £85.71/ tonne.

Cash barley prices at the close of yesterday were £70.50/ tonne (South-east); £71.00 (South-west); £69.00 (East); £69.20 (Midlands); £71.10 (North-east); £70.00 (North-west); and £70.50 (Scotland).

On the futures market, old-crop prices closed yesterday at £74.60/ t (March) and £76.60/ t (May). New-crop barley closed at £78.25/ t (September); £80.25 (November) and £82.25 (January).