The predictable exportable surplus of malting barley out of the E.U for the crop 2003, weather permitting, is close to 1.5 million tons, compared to 1.8 million tons in the previous grain year. This situation, coupled with the reduced total carry-over from the previous grain year (~3.9 million tons only), should tease the market. Nothing like this happens and the barley prices continue to slump since October last year.

22 April, 2003