By FWi staff
LIMITED trading and quiet European markets has led to poor domestic demand for UK old-crop barley.
Huge EU stocks continue to put prices under pressure, and any fresh export interest is likely to be supplied from the remaining intervention stocks in France or Germany, said Cargills Ian Wallis.
With the deadline for offers drawing near, traders believe intervention to be the best market for barley left on-farm.
This view is supported by Mr Wallis, who believes that the majority of barley left on UK farms to be of intervention quality.
He also says that intervention continues to provide the best market for old-crop barley.
Currency fluctuations have seen delivered intervention prices range between £83-£85/t, while deliveries made today (Tuesday) are up over 50p on last week at £84.04/t.
This compares with an ex-farm price of about £74.24/t.