Reid Seaby, Agfarm Regional Manager WA
Parts of the state again experienced some isolated thunderstorms this week, caused by cyclone Kelvin and the resulting weather system which moved south throughout the week. These rain events may continue in northern and eastern parts in the upcoming few days, possibly producing some heavy rainfalls. On the back of this wet and warm weather, weed germination has been extensive and growers are eager to maintain moisture and nutrient levels by controlling the weeds in the early stages.
Feed barley prices remain strong due to both the small tonnage that remains unsold and the continued demand from China. Malt is basically being treated as feed, so although there is effectively no premium, the price is benefiting from the strength in feed.
Turning our attention to new crop, and the past couple of weeks have provided some opportunities to make a start on or extend canola and barley sales for the 2018 crop. Canola bids have been up and around $550/MT FIS and feed barley has been $250/MT FIS and above. These prices represent a reasonable starting point for the 2018/19 marketing campaign.