EU: With barley crop 2022 outcome known, market focuses upon execution

Warmer than normal temperatures have continued to predominate across most of Europe, which supports an ongoing positive development for winter barley, RMI Analytics reported earlier this month.

With barley crop 2022 yield and quality already known, the market is focused upon execution, with a bit of trade activity in 2RS but 6RW is very quiet.

Attention has turned to crop 2023 where EU27+UK, production is forecast to increase slightly, as barley prices are viewed favourably by farmers. However, farmer selling interest for crop 2023 is limited at this early stage of the crop cycle.

Maltsters and brewers appear content with the coverage in crop 2022 and trade in crop 2023 is limited to farmer (or trade) willingness to sell. Exports are expected to remain strong in the short term but rumours continue to circulate regarding a possible settlement in the China/Australia trade dispute. For Russia, a return to average yields is forecast, and war-related issues continue to negatively impact production in Ukraine. Exports from the Black Sea remain limited by the �grain corridor� and geopolitical tensions linked to Russia.

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