July 18, 2012

United Arab Emirates buys Australian barley, Argentine corn

A buyer from Abu Dhabi in the United Arab Emirates bought 30,000 tonnes of feed barley of Australian origin and 20,000 tonnes of Argentina's yellow corn in a tender for the same volume which closed on Tuesday, European traders said on Friday (July 13).

The barley was priced at US$335 a tonne c&f and the corn at US$314 a tonne c&f.

Shipment for both the barley and corn is between July 15 and August 15.

Grain buyers in some major importing regions are continuing purchases this week despite rising prices as there are fears continued drought in the US Midwest grain belt will push global markets even higher.