Coarse Grain – Global
Global barley markets are slightly weaker as Northern Hemisphere harvest becomes imminent and a few tender results give clarity to traders ideas. Both Tunisia and Saudi were sold around US175/t FOB levels for August + September shipment against a list of trade offers around US180/t for harvest positions. With the Black Sea farmer seen as undersold the offers have started to become slightly more aggressive knowing the tonnage should start to flow in the coming weeks. Global weather conditions remain largely benign with little for the bulls to hang their hat on, grower retention is one of the last barriers to seeing lower prices.