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E-Malt.com Flash 31b
July 30 - August 03, 2008
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Currency Rates
Base Currency: Euro, EUR
on 31-July-2008

1 EUR = 1.5583 USD
1 EUR = 0.7869 GBP
1 EUR = 1.5954 CAD
1 EUR = 1.6449 AUD
1 EUR = 168.368 JPY
1 EUR = 2.4453 BRL
1 EUR = 36.5418 RUB
1 EUR = 10.6586 CNY
Base Currency: US Dollar
on 31-July-2008

1 USD = 0.6418 EUR
1 USD = 0.505 GBP
1 USD = 1.0238 CAD
1 USD = 1.0555 AUD
1 USD = 108.054 JPY
1 USD = 1.5693 BRL
1 USD = 23.4503 RUB
1 USD = 6.84 CNY
Currency Rates, EUR/USD Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

July 31, 2008

Type Crop 2007 Crop 2008
2rs Barley nq €199.0-201.0 1.48%
6rw Barley nq €185.0-187.0 1.06%
2rs Malt €535.5-537.5 €440.0-442.0 0.79%
6rw Malt €503.0-505.0 €422.0-424.0 0.59%
Feed Barley €156.0-158.0 nq

Note: Just click on the price link and you will be led to our Market Price History. Average barley market prices are French and are estimated on FOB Creil basis. Average Malt Prices are theoretical and based FOB Antwerp being estimated on French malting barley. The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.

Top Industry News

UK: SABMiller reports falling beer volumes for Q1 ...Click here
Germany: Beer sales decline by 1.7 per cent in the first half of 2008 ...Click here
China: China’s brewers struggle with higher input costs and dip in sales squeezing their margins ...Click here
Netherlands & Germany: Heineken rumoured to be buying Germany's Krombacher ...Click here
Canada: JPMorgan analyst downgrades Molson Coors for “risky” relations with SABMiller ...Click here
Russia: Deputies to toughen the law of beer consumption ...Click here
USA: More details about InBev – Anheuser-Busch takeover ...Click here
Canada: New malting barley grading established by the Canadian Grain Commission for 2008 - 09 ...Click here
Europe: Feed and malting barley market overview ...Click here
Australia: Up to AU$220/t in pool payments for barley growers ...Click here

Russia: 71% of Russians aged 25 – 44 drink beer, poll shows ...More Info
USA: InBev invites banks to support its $45 bln jumbo loan ...More Info
UK: Diageo will not sell the St Francis Abbey Brewery site until at least the end of 2012 ...More Info
USA: Anheuser-Busch’s beers to be brewed on green technologies ...More Info
Tunisia: Leading beer consumer among Maghreb countries ...More Info
Canada: Molson Coors Brewing Company declares quarterly dividend of USD0.20 per share ...More Info
USA: Anheuser-Busch will keep on marketing its brands ...More Info
Australia: Coopers Brewery contends for South Australian Telstra Business Awards in two nominations ...More Info
Switzerland: The Swiss drank more alcohol in 2007 compared to previous year, though not so much as in the 1980ies ...More Info
Netherlands: Learn more about Heineken in the company’s museum in Amsterdam ...More Info
USA: Granite City Food & Brewery lost more than predicted in Q2 ...More Info
USA: Nisa Investment Advisors L L C sell 10.69% of their shares in Boston Beer ...More Info
USA: Saint Arnold Brewing Company grows more than four times compared to the craft brewing industry nationwide ...More Info
Iran: Iran invites bids for feed barley ...More Info
Australia: Up to AU$340/t in advances for grain delivered into ABB Grains’ 2007 pools ...More Info
Go to our news database with more than 13214 articles.
Today with the possibility to be translated in 7 different languages!

Brewery News

UK: SABMiller reports falling beer volumes for Q1
Brewing giant SABMiller Plc reported a below-forecast 1.6 percent fall in first-quarter underlying beer volumes and warned of challenging trading in South Africa, sending ...More Info

Germany: Beer sales decline by 1.7 per cent in the first half of 2008
German beer sales declined anew in the first half of this year. The country's brewers sold 10.93 billion pints (5.17 billion litres) of beer ...More Info

China: China’s brewers struggle with higher input costs and dip in sales squeezing their margins

China's leading brewers face mounting challenges as they attempt to expand market share while their margins are squeezed by higher input costs and a recent dip in sales, XFN-ASIA quoted Goldman Sachs on July 30.

Goldman Sachs announced it had downgraded Tsingtao's Hong Kong shares to "neutral" from "buy" and its A-shares to "sell" from "neutral" due to likely weak second quarter results and a more challenging competitive landscape.

The brokerage cut its Tsingtao H-share target price to 20 hkd from 27 hkd, and its A-share target to 12.5 yuan from 28.5 yuan.

On July 29, Tsingtao's H-shares were reported to close at 17.1 in Hong Kong, while in the morning of July 30 its A-shares were up 0.04 pct at 24.1 yuan in Shanghai.

Meanwhile, Yanjing Brewery remains "neutral," but its price target has been cut to 17.1 yuan from 18 yuan. The brewer's shares were up 0.96 pct at 16.76 yuan July 30 in the morning.

Goldman Sachs explained the changes in China’s competitive landscape by the merger of InBev and Anheuser-Busch, which will become the country's number two player with significant exposure to both the premium and mass markets.

However, as the integration InBev and A-B will take some time, the immediate ...More Info

Netherlands & Germany: Heineken rumoured to be buying Germany's Krombacher
Heineken NV, the Dutch brewer that sells beer in more than 170 countries, wants to buy Germany's Krombacher Brauerei GmbH, Bloomberg cited a report ...More Info

Canada: JPMorgan analyst downgrades Molson Coors for “risky” relations with SABMiller
A JPMorgan analyst cut his rating on shares of Molson Coors Brewing Co. on July 30, saying the brewer's joint venture with SABMiller PLC ...More Info

Russia: Deputies to toughen the law of beer consumption
On July 28, Russian State Duma started considering amendments to the Administrative Codex and to the law of alcohol consumption, RIA Novosty announced. The ...More Info

USA: More details about InBev – Anheuser-Busch takeover

According to Anheuser-Busch, investment banking, legal and accounting services connected to the $52 billion transaction will cost the company about $120 million in cash in the second half of 2008, STLToday wrote on July 26. The deal is expected to close this year.

Besides, the company anticipates incurring a $72 million non-cash charge in the fourth quarter because of the accelerated vesting of stock compensation awards. There also will be about $40 million in cash payments under an enhanced officer bonus program and cash payments of $71 million for deferred compensation and retirement plans for officers and directors of the company.

As it was reported, two lawsuits stemming from InBev's takeover proposal have been dropped.

One month ago, InBev filed a lawsuit against Anheuser-Busch in Delaware Chancery Court. InBev asked the court to rule that Anheuser-Busch's stockholders were permitted to remove all of the company's directors without cause. On July 23, InBev dropped the lawsuit.

On July 24, Anheuser-Busch dropped its case against InBev, filed July 7 in federal court in St. Louis. Anheuser-Busch had alleged that InBev made false and misleading statements regarding its nonbinding buyout proposal.

Barley News

Canada: New malting barley grading established by the Canadian Grain Commission for 2008 - 09
The Canadian Grain Commission (CGC) announced grain grading changes for western Canada's 2008-09 crop year that will come into effect on August 1, 2008, ...More Info

Europe: Feed and malting barley market overview
The situation on the European market as of July 30 with regard to barley is described as follows:

Feed barley

Feed barley in high demand by ...More Info

Australia: Up to AU$220/t in pool payments for barley growers
Since July 29 Australian barley growers were to receive up to AU$220/tonne in second distribution payments for supporting ABB Grains’ 2007 pools, ABB Grain ...More Info
Scientific Digest

Fungal Hydrophobins in the Barley-to-Beer Chain

Tuija Sarlin, A. Vilpola, E. Kotaviita, J. Olkku and A. Haikara


J. Inst. Brew. 113(2), 147–153, 2007 Fungal hydrophobins have been shown to induce gushing of beer. In order to study the occurrence and fate of hydrophobins at different stages of the production chain of beer, barley samples artificially infected in the field with Fusarium culmorum, F. graminearum and F. poae were collected during the growing period as well as during various stages of the malting process. In addition, naturally infected malt was brewed in pilot scale and samples were collected throughout the process. The samples were assayed for hydrophobin content using an ELISA method. The results showed that fungi produced hydrophobins that accumulated during barley grain development in the field, but that production was more pronounced during malting. Prolonged storage of barley tended to reduce the ability of fungi to produce hydrophobins in malting. Studies on the fate of hydrophobins during the brewing process revealed that mashing released hydrophobins from the malt into the wort. Some loss of hydrophobins occurred throughout the brewing process with spent grains, cold break (wort boiling) and surplus yeast. In addition, the beer filtration step reduced hydrophobin levels. Despite the substantial loss of hydrophobins during brewing, the level was high enough to induce the gushing detected in the final beer. Key words: Brewing, Fusarium, hydrophobins, malting. Load full article, 7 pages, 534 Kb, PDF file

Barley prices.
Malting and Feed Barley Prices

Prices for Danish malting barley are available
on site www.e-malt.com/MarketPrices

Theoretical malt prices

Theoretical malt prices (Crop 2007, Crop 2008).

NB: Prices published are theoretical malt prices including financial cost, THC (for bulk and bags container) and all administrative costs. This prices may fluctuate according to the quantity per delivery and technical specifications.

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Prices Evolution

Prices evolution

Table of the week
First And Provisional EU Malting Barley Supply And Demand Estimate 2008/2009
Table of the week.

Graph Of The Week

These Days in Business History
30 July
1863 Henry Ford, car manufacturer was born
1897 German chemist named Felix Hoffman synthesizes a stable form of acetylsalicylic acid in a laboratory in Berlin. The head of Bayer’s pharmacological institute, Heinrich Dreser, soon names the product “aspirin,” and it becomes the best-selling drug of all time.
1928 George Eastman demonstrates 1st color movie

31 July
1790 1st US patent granted, to Samuel Hopkins for a potash process
1809 1st practical US railroad track (wooden, for horse-drawn cars), Phila
1925 Unemployment Insurance Act passed in England

01 August
1930 Clarence Birdseye is awarded a U.S. patent for the invention of packaged frozen food.
1950 Steve Wozniak, future co-inventor of the Apple computer, is born.
1981 Pres. Ronald Reagan signs into law the Economic Recovery Tax Act of 1981, the biggest tax cut in American history, which streamlines the Federal income tax brackets, lowers the top rate to 36%, and creates the universally-deductible Individual Retirement Account.

02 August
1858 1st street mailboxes-Boston, Mass.
1890 The BOVESPA (Bolsa de Valores de Sao Paulo, or Sao Paulo Stock Exchange), Brazil’s central securities market, is founded.
1984 Euro Court condemns phone-tapping.
2000 The New York Stock Exchange begins trading in decimals, ending the two-century-old practice of pricing stocks in increments of 1/8th of a dollar.

03 August
1887 Thomas Alva Edison receives a U.S. Patent for his new kinetoscope, the predecessor to the motion-picture camera.
1977 Tandy Corp. introduces one of the earliest affordable personal computers, the TRS-80 (soon to be affectionately nicknamed the "Trash 80"). It has 4 (yes, four) kilobytes of memory, a black-and-white monitor, and uses floppy disks that truly flop when you shake them. It retails for just $599.
1984 Total trading volume on the New York Stock Exchange exceeds 200 million for the first time, as 236,565,110 shares change hands.