Barley prices likely to stay down

By FWi staff

UK barley prices have slipped on the back of weak exports and limited demand.

Unless there is a resumption in export demand, it is unlikely current values will recoup the falls of the last month, said Cargills Ian Wallis.

But the old crop is all but finished for feed barley and shippers are covered for their last vessels now, said a spokesman from Glencore grain.

Ex-farm spot values fell over £1 during the week to about £73.50/t, while futures inched up to £74.50/t for May deliveries.

Trade is slow and at LIFFE yesterday (Monday) barley finished the day untraded.

A similar picture was seen at the EU grains management committee export tender last week, when all bids for open market barley were refused.

Intervention is still the best delivered market in the UK if the quality meets the specification. Values are up slightly on last week, with deliveries made today (Tuesday) at £84.15/t.

The total tonnage accepted so far into UK intervention stores now stands at 112,000 tonnes.

With new-season plantings confirmed by MAFF down 26%, producers will be waiting to see what effects this has on new season values.

Since the figures were released harvest prices have come up by as much as £2.50/t, said Gary Sharkey of BDR Agriculture.

There should be a tighter harvest position, and values are likely to be £68-£70/t depending on the region, he said.

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