EU: EU Commission corrects barley S&D balance sharply downwards

On June 26, the EU Commission has corrected its S/D balance sharply downwards and points out the risk of a further crop reduction, H. M. Gauger GmbH reported on July 3.

In 2018/19, the EU’s beginning stocks of barley are forecast at 5.843 mln tonnes vs 5.643 in 2017/18. Production is seen slightly down – at 58.43 mln vs 58.791 mln in 2017/18. Exports, including malt, are seen at 10.073 mln tonnes (8.1 mln in 2017/18). Total use is forecast at 60.436 mln tonnes (59.091 in 2017/18) and ending stocks at 4.338 mln tonnes vs 5.843 mln tonnes in 2017/18.

Barley exports (Taxud) in July/26 June 17/18 (4 days short of the grain year) were 5.492 mln tonnes, 3% more than last year. Barley imports were 0.446 mln tonnes, of which 0.331 mln tonnes from Ukraine, import tax-free.

Markets are inactive, farmers, trade and industry wait for the harvest, industry sources reported.