09 August, 2024

EU & UK: Barley price move further downward with French harvest mostly completed

With French harvest mostly wrapped up and the mostly disappointing result now clear, the market is back to the realities of weak demand situation and harvest-related pressure. In total, these factors have prices moving further downward, RMI Analytics said in their latest report.

There has been some new trades (e.g. maltsters) at these lower price levels which confirms open demand still exists but the market tone remains on the bearish side. While the French wheat crop is dropping to the lowest level in over 40 year, the Paris wheat futures remain steady to downward. China has been buying barley in other origins, which is also bearish to French prices.

Spring barley harvest is starting to roll out in both the UK and Denmark, and crop’24 prices are moving lower as a result. Early quality results on the first 10% in Denmark is showing good yields but proteins are on the lower side. Protein levels may increase as harvest advances but for now, it appears there is a lower than average protein crop to manage. In the UK, with reasonable winter barley confirmed, a reasonable spring barley result is expected.

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