EU & UK: Barley crop situation improves across Europe
Barley crop situation across Europe has improved dramatically over the past two weeks under very favourable conditions: rain and moderate temperatures which is ideal for barley production, RMI Analytics said in their early June report.
The analysts’ EU27+UK production forecast at 58.9 mln tonnes is unchanged this month, while they have adjusted downward the feed use and exports on the basis of high prices rationing demand. The result leaves a slightly higher ending stock result but remaining in an extremely tight situation.
French two-row spring barley has experienced some stress and the final yields may fall 5-10% below average. The UK & Danish crops are good, as rain and normal temperatures are creating a near-ideal situation.
French barley prices are lower this month with feed barley dropping dramatically as rains boosted confidence that final yields will be attained at normal or near normal levels. Paris wheat futures have dropped EUR60 per tonne indicating the impact of the recent rains in boosting crop conditions which were becoming worrisome in the past weeks.
In a very quiet trade environment, the UK and Scandinavian barley prices are down following the French price direction. These crops avoided the heat and dryness experienced in France, and are described by many to be near-perfect at this stage. Feed prices are very weak in Rouen and the UK as a good crop is mostly secured.
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