SA Market Update – 15/12/2017

Kate Phillips, Agfarm Account Manager SA

Last week was a week of hot temperatures, a total fire ban, night-long harvesting, and now another rain front on the forecast.

Each rain event brings on more and more concern regarding grain quality. Growers’ comments around the good protein levels they are seeing have continued through this week, but these are now being countered with increasing falling numbers concerns. Falling numbers are now being tested right across the state, which has proven costly to several growers from both a time and price perspective, particularity around the Yorke Peninsular area. Barley tests are coming back in the high 200’s, but with 300 needed for malt, much is now going as feed. Wheat is similarly being hit with high protein grain now classing as AGP1 and Fed1 due to falling numbers and screenings.

Total harvest progress across the state is at 65-70% complete. The Eyre peninsular is leading at around 80% complete, central areas are sitting at around 70% complete, although the south-east and Lower Yorke peninsular areas still have more than half of the crop to bring in. A possible rain front on the radar looks like it might pass through majority of the state Tuesday to Wednesday next week. Fingers crossed it moves away to the east meaning harvest can continue at a cracking pace in the lead up to Christmas.

4 day rain

Canola markets continue to soften and is back $17/MT with values now below $500/MT Port Adelaide. This is due to increased production in Canada and increases to the South American soybean prospects.

There have been good fortunes for growers looking to move F1 over the past week, with over $230/MT Port Lincoln and $225/MT Port Adelaide being traded. Malt barley remains steady at around $270/MT.

Wheat is a bit of a mixed bag. The high protein grades are remaining fairly steady with H2 at $261/MT Port Adelaide track, with ASW1 and AGP1 back $3-5/MT.

Photoed: Unloading wheat at Semaphore SA.

SA Photo 20171215

Prices as at Friday 15th December 2017

SA Pricing Table 20171215