The 2002 crop malt market is now virtually concluded, some small interest remains for specific destinations in small volumes, according to Greencore Malting Group. The 2003 crop market has still to really get going, some traditional business has been concluded in Continental Europe however later than usual and not always for the full 2004 delivery year due to uncertainty over beer sales.

Enquiries are in the market and many buyers are studying carefully the movements on the barley market, trade is nominal and therefore values are largely technical, a prolonged dry spell is causing concern over European crop prospects and the extent of winterkill particularly in Eastern Europe. Uncertainty is likely to continue until we see volumes of barley safely gathered in the barn when its quality and yield prospects can be fully evaluated.

30 May, 2003