EU & UK: Malting barley prices continue to reflect slow pace of planting in France

French malting barley prices continue to reflect the slow pace of spring barley planting and less so regarding the poor demand situation, RMI Analytics said in their March report.

Spring barley is higher in both crop 23 and crop 2024 as planting is well behind the normal pace, with the consequences of final crop development being pushed into the higher temperatures of summer.

Higher price volatility can be expected when summer heat arrives in June/July, as yield and quality risks are elevated on a late-planted crop.

While the crop 2023 six-row winter barley price is steady to slightly lower, leaving a EUR100/tonne price spread between spring and winter barley. The crop 2024 winter barley price is moving higher, more in step with spring barley, because of the poorer crop conditions and an associated higher risk to yield and quality results in crop 2024.

Since the end of February, prices for Danish and UK malting barley are lower for crop 2023 as weak demand remains the story, but for new crop 2024 the prices are up in alignment with French prices.

For the UK market, there is a continual swing between a lack of buyers and a lack of sellers, with the result being little trade is actually completed. UK maltsters still appear to have small buying interest from time to time.

In Denmark, the crop challenge from 2023 remains and mostly only contract washouts are occurring.

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