EU: Malting barley prices trending upwards on worries about dryness in UK and Scandinavia
The EU malting barley market is on fire with spring barley prices significantly up and still trending upwards, GrainCom said in their latest newsletter on July 6.
Worries about the crops in the UK and Scandinavia due to dryness are the main drivers for this price rally. With this price move the market reacts to the lower production outlook and consequently very tight (spring) malting barley S&D.
There was some firsthand selling on the way up but farmers dont really sell anymore certainly for good reasons - and now supply is lacking. GrainCom analysts expect further buying interest and consequently well supported markets.
In France the winter barley harvest is almost finished. Qualities are ok but a bit disappointing in terms of yields and calibration. The lower yields are a bit surprising as it looked more promising in the fields than it actually came into the silos. Some are worried that this will be also the case for spring barley.
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