EU & UK: Barley crops looking very good at this stage
The European barley crops look very good, but it remains a long way until harvest confirms this potential, RMI Analytics said in their early April report.
In the meantime, prices are firm in crop 2022 while crop 2021 prices are mostly steady.
In France, the spread between crop 2021 and crop 2022 is quickly narrowing, mainly through stronger new crop prices. There is little crop left to transact and the focus is turning more toward the crop 2022 market.
It also appears new crop values are moving toward last traded levels for old crop barley, indicating a further EUR25-30 per tonne upside.
UK barley crop looks very good, prices are following others higher.
Denmark and Sweden planting is progressing and prices are also in an upward trend. As with France, most price movements are with crop 2022 and due to brewer pricing interest at a time when farmer liquidity is limited at this early stage, the analysts said.
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