Lets say, for instance, that an AG batch of beer calls for 15lb Pale Malt as the main grain. Would the brewer be able to substitute out, say, 12lb with LME and get a fairly close end product (thus making the grain bill 12lb LME, 3lb Pale Malt)?
Liquid Extract = .75 x Base #
Dry Extract = .6 x Base #
Here is the information I found:
Liquid Extract = .75 x Base #
Dry Extract = .6 x Base #
Just remember that this is only for the base malts. You still need to steep your specialty grains. But I figure you already know that.
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