EU: Barley harvest finished with disappointing results
The barley harvest of the EU is finished. Final results are disappointing. Even in the countries of better crops - Spain, the UK, Denmark - quantities and qualities are less than hoped for before harvest, H. M. Gauger GmbH reported earlier this month.
Over most of the continent, from France through Germany to Scandinavia (except Denmark), Poland and Central Europe, results are quite variable, but not good. Low yields per hectare, low test weights, low plumpness are general; in various regions, more often in the eastern half of the EU - high protein, pre-germinaton, sprouted grains, red kernels, downgrade parts of the barley crops.
Sellers are absent from markets. There are outsold farmers, coops, merchants, and others holding back for even better prices.
On paper the EU still seems self-sufficient, but the balance depends in the end on the willingness resp. necessity of brewers and maltsters to accept lower barley and malt qualities.
Notwithstanding an already tight supply and demand situation, there is a great export demand, first of all to China, also to traditional markets in the Mediterranean and Africa, and this year also to Canada and the United States.
China has bought 2.2 mln tonnes of old and new crop barley from France, of which 400 thousand tonnes of malting barley. Denmark is rumoured to have sold at least two cargoes to North America. The EU is approaching the oversold position quickly.
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