WA Market Update – 06/04/2018

Reid Seaby, Agfarm Regional Manager WA

 

Isolated thunderstorm activity generated some rain through the central and eastern wheatbelt over the Easter weekend, but falls weren’t significant, generally ranging from 1 – 10mm. Although March was predominantly dry, growers remain optimistic about the upcoming season given they have been able to preserve a lot of the moisture from rain events during January and February. And now we are a week into April growers are looking to the skies and hoping for a good autumn break within the next two to three weeks to consolidate the subsoil moisture. The BOM’s April to June weather outlook is fairly neutral across most of WA’s cropping areas, calling for an equal chance of above and below average rainfall.

There have been reasonably modest changes to grower bids this week but generally any moves were positive. International markets are focussed on the potential tariffs on US imports into China but the Australian domestic price crept higher on what seemed to be positive export demand. 2017/18 wheat bids in Kwinana were about $3-4/MT higher, barley was essentially unchanged, and canola was mixed. New crop APW1 in Kwinana climbed $9/MT to be $295.MT FIS.

Prices as at 6th April 2018

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