EU & UK: Barley forecast unchanged at 58.37 mln tonnes
There are no changes to the EU-27 + UK barley crop forecast – RMI Analytics left it unchanged at 58.37 mln tonnes in their late November report.
As already reported, the quality of crop 2022 is generally good with only isolated protein issues to manage. The world (e.g. China) may be forced to turn increasingly to Europe for malting barley quality, as a result of southern hemisphere problems, the analysts said.
Current focus remains on the 2023 winter barley crop, which continues to advance under very positive conditions.
European barley prices are mostly widening versus feed barley as trade covers short positions. Weaker USD is impacting prices upward on a currency basis.
Spot interest in UK malting barley indicates coverage is not yet fully complete, the experts said. winter wheat plantings in the UK point toward a reduction in barley area (minus 5-10%) for crop 2023.
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