WA Market Update – 05/01/2018

Reid Seaby, Agfarm Regional Manager WA

The bulk of the state’s harvest is now complete, as warm weather in the lead up to Christmas saw many finish their 2017 programs. Although the season wasn’t necessarily great for everyone, many benefited from the soft finish which improved yields for most. The outcome of the cool and wet spring has seen CBH increase their production estimates, with receivals expected to be around 13.2MMT, well up from its 9.5MMT estimate back in September. CBH reported total receivals of 12.9MMT to the 29th December; 5.5MMT in Kwinana, 3.1MMT in Albany, 2.75MMT in Esperance and 1.55MMT in the Geraldton zone.

It has been relatively quiet on the marketing front this week with little or no international news driving markets over the holiday period. In recent days however, futures have been given a kick with speculation surrounding the possibility of some winterkill in parts of the US. The export pace out of WA has been slow but it is expected to improve during the period from March through July, providing potential upside in bids and hence an opportunity for grower selling. APW1 in Kwinana is still hovering around $270/MT and feed barley around the $250/MT free in store mark.

Prices as at Friday 5th January 2018