SA Market Update – 27/04/2018

Kate Phillips, Agfarm Account Manager SA

The dry warm weather continues, with April and May falls expected to be on the low side. Those who continue to hold old season stock are being vigilant about the upcoming forecast. A continued dry spell may well see the hold payoff, whereas a good break in the season may well see sellers chasing the market down.

Barley markets finished the week on equal footing with the previous week. Port Adelaide new crop sits steady at $250/MT and old crop at $260/MT. Port Giles saw the bid for new crop F1 at 245/MT with Wallaroo at $241/MT, Port Lincoln at $250/MT and system stock bids increasing by $7/MT.

South Australian wheat cash market bids were up this week. New crop APW1 multigrade bids realised a $10/MT increase and the feeling is this may well continue into the week to come. However, seller engagement on all new crop fronts is subdued with most willing to sit it out for the most part.

The new crop canola market continues to sit at the $510/MT level, with the old crop market all but non-existent for stock in the system.

Prices as at Thursday 26th April, 2018

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