Australia: Barley lifts on China demand

Grower sales of wheat and barley have picked up in the southern market this week, while domestic demand in the north has shrunk as buyers wait for forecast rain to depress offer prices. Traders are confident growers will be pricing more new-crop tonnage to generate near-term cashflow, with barley likely to be the grain they hold if they deem the bids too low. While wheat has traded sideways to firmer in the past week, barley values have lifted in the south as demand from China encourages traders to accumulate for the bulk market. Table 1: Indicative prices in Australian dollars per tonne. Poultry demand for H2 wheat has picked up for nearby slots, and is absorbing much of the tonnage being offered by growers. Its premium over ASW and APW wheat has lifted in recent days by around $10/t, and is being booked delivered Downs January at $450/t. “All of a sudden there’s a bit more interest in that,” one trader said. ASW and APW-type is dominating deliveries of new-crop wheat as harvest ...