EU: Volatility back to malting barley markets
Volatility is back to the malting barley market, with brewers showing up in several European countries, meeting lack of farmer selling, GrainCom reported on June 16.
Put in context with firmer overseas grain markets, this gives firmer markets with values moving up by € 3–6 per tonne, depending on the origin and variety.
Strategie Grains reduced EU barley production forecast by 1.5 mln tonnes to 58 mln tonnes but this did not help to calm down the market.
France is rather warm and dry, leading to speculation about the condition of the spring grains, whereas the harvest for winter grains is proceeding rapidly with average results, both in quality and yields. There is, though, a first trend showing a bit higher protein levels in malting barley.
Conditions in the UK and DK look fairly good, but some cooler conditions with more precipitations would be welcome.
France AGRIMER rates French winter malting barley crop at 65% good/excellent (down 1% from last week) and French spring malting barley at 73% (vs 74% last week).
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