Malt refers to a grain product which is used in different types of foods and drinks for fermentation as well as to add nutrients and flavor.Malt is derived from cereal grains that have undergone partial germination and were dried. Any type of cereal can be turned into malt, but barley is the most commonly used one.Grains such as rice, rye, corn, and wheat are rarely used to produce malt. The malting process is performed by soaking the grains in water and then drying it with hot air to allow them to germinate.ny type of cereal can be turned into malt, but barley is the most commonly used one. Grains such as rice, rye, corn, and wheat are rarely used to produce malt. The malting process is performed by soaking the grains in water and then drying it with hot air to allow them to germinate.