Reid Seaby, Agfarm Regional Manager WA
Mostly clear weather allowed good harvest progress in WA last week with CBH taking about 2.5MMT of grain deliveries into the network. As per CBH estimates, the total 7.33MMT delivered puts harvest at roughly 60% complete. Geraldton deliveries surpassed 1MMT and from all reports harvest should essentially wrap up this week. About 1.2 MMT was delivered into the Kwinana zone over the past seven days, taking the total harvest deliveries to just over 3MMT. Harvesting through the Albany zone accelerated last week with approximately 600,000MT delivered, putting total deliveries at 1.37MMT and nearing the half way mark. Yields and quality in the Albany zone are good and are generally exceeding expectations. About 1.8MMT has been received in the Esperance zone and about 1/3 of the crop remains to be harvested.
Bids were slightly lower over the past week apart from next season’s APW which was up $3/MT to $257/MT. Abundant global supplies continue to drive world grain markets, and with lower trade volumes due to the thanksgiving holiday period in the US, there wasn’t much to alter the bearish tone we have been experiencing. A little bit of price support is coming from the recent downtrend in our local currency, and generally growers remain reluctant to engage the market on wheat, outside of noodle.
Photoed: Malt barley in Williams WA.
Prices as at Friday 1st December