SA Market Update 27/07/2018

Kate Phillips, Agfarm Account Manager SA

The high winds have continued across many parts of SA this week, but thankfully temperatures have warmed and the frosts that parts of SA experienced last week haven’t occurred again this week. Damage from the winds is varied across SA. We have seen evidence of wind damage in some of the sandier areas of the state, whereas in other areas where it truly blew “its guts out”, there has been less damage experienced than could have been expected.

The state did see some rainfall during the week with the Murray Mallee through to the South East and Riverland receiving around 7-15mls. The eight-day BOM forecast shows another cold front sitting off the southern end of SA, which will hopefully bring falls of 5-20mls and keep things ticking over nicely.

We are starting to see some large variations in crop growth and yield potential across SA as the season progresses. Crop conditions are currently ranging anywhere from a rating of 1.5 (very poor to poor) on the Agfarm crop condition rating scale to well within the mid 3’s range (average). Generally, the feeling throughout most areas is that the crop is at least three to four weeks behind when compared to an average year.

This week I attended a couple of grower breakfast/crop walk events that Platinum Rural Murraylands ran at Younghusband and Sherlock. Both days were well attended and it was great to share a bite to eat and a chat with the growers. Unsurprisingly, the dry conditions and crop survival continuing to be the biggest concerns for growers in these areas.

The Eyre Peninsular field days are almost upon us as well. Agfarm will be there so if you will be attending please put aside some time in your day to drop by and say hello, and grab a new hat or beanie.

In market news this week, we have watched as buyers strengthen their bids day on day in both the new crop and cold crop markets for grain both on farm and in the system. Buyers are also more than happy to look at all offers with some good selling occurring as a result.

In the new crop 18/19 market we have seen increases of $4-28 for wheat, barley and canola with the APW1 MG bid of $335 being up $28 week on week. In the old crop wheat market, we have seen APW1 strengthen $13 to sit well above $300 at $310 Port Adelaide with the other big movers being H2 Port Adelaide being bid at $320 and F1 barley at a strong $310. We are also seeing old crop Canola bids come back into the fray with growers being able to secure $542, around $40 stronger than the bids we were seeing post-harvest.

 

Prices as at 26th July

 

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