EU: Markets are firm, old and new crop prices are at the same level

The crop year of 2006/07 is approaching its end. There is little domestic activity in old crop malting barley, but open demand is still seen for export to Russia.

Feed barley markets are very tight; the EU Commission has reduced intervention stocks to a quarter million tons. Markets are firm, old and new crop prices are at the same level, CPT Rouen EUR 152,- and CPT Rotterdam/Dutch/NW German consumption regions close to EUR 160,- for June/August. Export business has been done to Morocco at US$ 250,-/255,- CFR. As international barley traders are apprehensive about a possible barley export embargo of the Ukraine, much of the Middle East demand is shifted to the EU, until Canadian and Australian new crop barley become available.