A process for preparation of cereal fractions. The process comprises wet milling of oat bran, endosperm or starch, or barley bran, endosperm or starch, in the presence of an enzyme composition derived from malt; and when oat bran or barley bran is wet milled, optionally isolating, from the wet milled bran, a beta-glucan enriched fraction. Liquid food products obtainable by the process.