WA Market Update – 08/06/2018

Reid Seaby, Agfarm Regional Manager WA

The eastern and northern wheatbelt has received good falls over the past fortnight which has ensured a good germination for crops, particularly those that sown dry. Although these regions have cumulatively received less rain than this time last year, the timing has been more suitable and hence, growers are better placed to achieve an average to above average season. The southern half of the state surprisingly hasn’t fared as well, but rainfall figures have been sufficient to allow for most crops to be seeded into moisture and emerge. As we turn our focus to the Esperance zone, conditions become drier still with most areas hoping to receive some good rain in the not too distant future – but it is far from panic stations yet.

Grain markets were flat to positive this week but were far less volatile than international markets. Although futures markets were higher the stronger AUD has been offsetting these gains and not doing local farmers any favours. New season APW1 was $2/MT higher to end this week at $310/MT FIS in Kwinana. Old season wheat was also stronger – APW1 up $1/MT to $313/MT, H2 up $6/MT at $321/MT and ASW1 finished at $307/MT FIS. Barley bid were unchanged, and canola was mixed.

Pictured: One of many bad dust storms that were thankfully ended by subsequent rain.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Prices as at 7th June

 

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