Weather in the Northern and Eastern EU has continued variable, but altogether beneficial for grain crops. Local problems of dryness and cold temperatures will have little effect on the overall result. It can be assumed that the percentage of malting quality of winter and spring barley will be high enough to provide for all domestic needs plus an export surplus of about 1.5 million tonnes. Malting barley markets for new crop: French, July, FOB Creil, Scarlett EUR 123, Esterel (6rw) EUR 108, according to analysts. Danish, October, FOB seaport Barke/Alliott EUR 132. UK, October, FOB seaport, Optic/Cellar EUR 130. Bavarian, October, FOB Main, Scarlett EUR 136. Prices are low, they reflect a feed barley market around intervention price levels (101,31) and a low premium for malting quality. Of course, maltsters are trapped by low malt prices and try their utmost to get prices further down.

07 July, 2004