Posted 1/13/2021 06:46 (#8747155 - in reply to #8747063) Subject: RE: Wheat
Malt barley varieties are very common in Western Australia, however the grain has to meet certain protein and screenings windows. If your grain doesn’t meet both specs it goes into the feed stacks.In years of low malt production they will relax the requirements to get into the malt stacks. When maltsters are desperate they will buy a percentage of barley from the feed stacks and blend with malt quality grain.
Saudi Arabia has traditionally been a big buyer of our feed barley, where China is getting its malt requirements from is the unknown at this time. If they re enter the market for barley prices will quickly increase. Trouble is politically they have the ****s on with Australia as we have blocked some of their state run companies buying Australian infrastructure and tendering for communications projects.
However they are still buying our iron ore at record prices, so they have history of buying commodities when they need them.
Hope this explains a few things.