The remaining export surplus of old crop EU malting barley is 300 thousand tons, or maximum 400 thousand tons, if one includes lower quality grades. That is not much in view of possible demand from China, America and local industries. But business since the beginning of the calendar year has been close to zero, and the barley longs in France and Denmark have become increasingly nervous and depressed. Price levels crashed for old crop barley and pulled new crop down with them.

11 April, 2003