EU & UK: Malting barley prices slightly up after higher wheat futures in Paris

Excitement in grain prices has arrived for French Creil and Mosel malting barley prices, which are up slightly in the path of higher wheat futures in Paris, RMI Analytics said in their latest report on October 3.

At the time of the publication, news arrived of a Russian missile attack on Ukrainian ports, adding further geopolitical influence to the Middle East escalating tensions. Weather influences are coming from Russia declaring a state of emergency for drought conditions and the frost event in Australia - contributing to the current market’s slight bullish tone. The weaker Euro has softened the price increase in USD terms.

In alignment with French prices, barley prices in the UK and Denmark have moved slightly higher. Domestic maltsters in the UK appear well-covered to the end of 2024; Danish maltsters are actively transitioning to crop’24 in a welcomed move away from the challenging crop’23. Demand is still extremely low, with little UK trade into the continent, partially influenced by Spain’s better crop result this year but also a lack of demand remains a key market impact.