EU: Barley production forecast up due to positive results in Germany and Denmark
The EU-27+UK barley production is forecast at 58 mln tonnes, versus 57.2 mln as at the beginning of September, RMI Analytics said in their latest report.
The increase is due to positive results in Germany and Denmark (generally across northern Europe).
Russia continues to surprise with excellent yields and generally good quality – RMI’s forecast for the country rises to 22 mln tonnes (from 20.7 mln in the previous report).
Dryness concerns across Europe have been addressed by widespread rains in September. This much-needed moisture will benefit early barley crop 2023 development and boost the prospects for another good French winter barley result.
European barley prices are mixed: Creil, the UK, and Denmark prices are softer in crop 2022, while Mosel shows a bit of firmness, as are all crop 2023 prices. The market is a bit sluggish at present and still impacted by outside markets (e.g. wheat).
Brewers and maltsters are well-covered in crop 2022 with price action shifting to crop 2023, and a narrowing spread to crop 2022 taking place.
Feed barley prices are well-supported, industry sources report.
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