EU & UK: Malting barley prices reacting to seeding and poorer crop conditions concerns
European malting barley prices are reacting to the concerns about late seeding and poorer crop conditions, with a sharp move higher for spring barley, RMI Analytics reported on April 11.
Winter malting barley is up as well, in response to the poorer crop condition rating, but to a much lesser degree.
Feed barley prices are up slightly but the price action is clearly led by spring malting barley.
It has been reported that enquiries from Europe about interest in crop 2023 barley in Argentina provide an indication of the possible concern being felt about the current crop situation. Further delays in planting could lead to lost barley area and more yield/quality risk for late seeded area.
Prices for Danish and UK malting barley are higher in both crop 2023 and crop 2024, and in response to the higher French price move.
The Danish market needs a good crop 2024 result following the challenges from crop 2023. A clearing of weather to get the spring barley planted in a normal timing is more critical than ever this year. The stronger EUR and GBP are inflating these price moves slightly, in USD terms.
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