Head of Barley Trading

Job Description

• Lead the combined Feed Barley and Malting Barley books, delivering agreed GM, P/L, volume and return objectives through the commodity leads and the role holder's own trading activity.  Develop and execute a growth plan with the ambition of increasing annual combined GM.
• Set the overall Barley trading strategy with the commodity leads, coordinating physical positions, basis, futures, spreads, flat price, exports and relevant cross-commodity relationships. Agree book-level strategies and objectives with each lead, who remains accountable for their implementation and delivery.
• Independently identify and execute physical and derivative trading opportunities within delegated authority, using senior commercial judgement and agreed risk capacity to add value. Coordinate this activity with the commodity leads so that position ownership and exposures are clear.
• Collate and interpret UK, European and global market information. Consolidate and challenge book-level position, risk, forecast and P/L reporting, and provide the Head of Grain Trading with a clear combined barley view, recommendations and timely escalation of material issues.
• Provide direct line management to the Feed Barley and Malting Barley commodity leads and other assigned barley team members. Agree objectives and delegated authorities, review performance and develop commercial judgement, trading capability and succession, with clear individual ownership of book delivery.
• Oversee aggregate barley exposure and ensure each book operates within its agreed strategy, limits and controls. Support sound trading judgement, challenge decisions and require corrective action where necessary, escalating matters beyond delegated authority to the Head of Grain Trading.
• Agree origination priorities with the commodity leads and Farm Trading Commercial management.  Ensure each lead establishes and communicates timely prices, buying requirements and market updates for their book to maximise origination and commercial value.
• Develop strategic relationships with key merchants, maltsters, feed compounders, exporters and trading partners. Work with the commodity leads on major commercial frameworks, tonnages, pricing mechanisms and grower programmes, supporting their ownership of customer relationships and book delivery.
• Identify and develop additional value across barley through physical trading, cash market liquidity, exports, freight, basis and relationships with wheat and other relevant commodities. Coordinate opportunities across the team and agree clear ownership of delivery.
• Work with Farm Trading Commercial management, the wider Trading team and Logistics/Shipping to improve trading and execution decisions.  Hold the commodity leads accountable for correct contractual execution of their books and support resolution of issues requiring wider coordination or senior intervention.
• Review haulage overspend, claims, defaults, quality issues and other non-budget costs with the commodity leads.  Agree improvement actions, monitor delivery and ensure material impacts are reflected in forecasts and management reporting.

• Work with seed breeders, the Seed trading team, Commercial Managers, customers and the commodity leads to develop commercially relevant varieties, supply programmes and new market opportunities, with clear responsibility for implementation.
• Act as a senior leader within the Grain Trading team, promoting trading discipline, risk management, integrity and sound commercial decision making, and contributing to wider desk strategy, capability and talent development.

• Significant senior agricultural commodity trading experience with a demonstrable track record of generating material P/L and delivering sustained commercial returns.
• Proven experience independently managing sizeable physical and derivative trading books, with strong knowledge of basis, futures, spreads, risk management and commodity supply chains.
• Strong understanding of UK and European grain markets; direct Feed Barley and/or Malting Barley experience would be highly beneficial.
• Proven people leadership and performance management capability, with the authority and judgement to lead, challenge and develop experienced traders.
• High level of numeracy and commercial judgement, with the confidence to take accountable decisions and manage risk effectively in volatile markets.
• Strong negotiating and relationship-building skills with the credibility to operate with major customers, strategic counterparties and senior internal stakeholders.
• Highly results orientated, self-motivated and able to set challenging objectives, drive execution and operate as a senior commercial leader within the wider Trading team.