WA Market Update – 02/02/2018

Reid Seaby, Agfarm Regional Manager WA

As growers look to get back into it after well-earned break in January, the remnants of Cyclone Joyce have disrupted preparations for this year’s crop. Unrelenting winds provide limited opportunities for summer spraying, whilst wide-spread rain has brought on the germination of weeds. Those looking to deep rip have had to hold off for the moment, as ripping moist soil can result in increased soil strength, countering the intended benefits.

On the market side of things canola prices have rebounded slightly, creating an opportunity for growers to reassess their targets and sell down stock. WA noodles markets have pushed up above the early harvest highs, hitting $348/MT FIS, benefiting growers that chose to hold grain from the lows in early January.  Looking overseas the AUD has held above US$0.80 all week, reducing the impact of a steady rise in Chicago futures this week on the back of concerns about dry conditions across the United States.

Pictured: The total rainfall for January showed the wet remnants of Cyclone Joyce.

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Prices as at Friday 2nd February 2018:

WA pricing tables 201802025