Crop prospects in the Northern Hemisphere are really good, and bull markets of the crop year 2003/04 are a thing of the past. Only the old crop soybean market remains tight. Barley markets dropped to unbelievably low levels, Black Sea barley was US$ 150 FOB at the turn of the year and is about US$ 75 now, for crop 2004. Jordan purchased feed barley at US$ 116 to 110 CIF, Iran at 109, Saudi-Arabia is reported at 105, Israel a small lot at 95. In view of the world balance and the uncertainty of EU export restitution Black Sea prices are incomprehensible. French barley costs min. US$ 123 FOB Rouen.

07 July, 2004