WA Market Update – 24/08/2018

Reid Seaby, Agfarm Regional Manager WA

Growers seem to be in somewhat of a holding pattern at the moment, knowing the season is on a knife’s edge and a frost or hot spell could be the difference between a bumper crop and an average season. Assuming we avoid a disastrous weather event, the WA crop will be big – some analysts and the trade are now talking a wheat crop of between 10 – 11MMT. CBH Zone Manager, Duncan Gray spoke on the Country Hour this week and is expecting the Geraldton zone to see near record yields and the potential is for a repeat of the 2011/12 season. Much of the Kwinana zone is also well above average for now and the Great Southern and Esperance Zone continue to improve as the season progresses.

Prices were off the boil this week, but bids do remain strong when all is considered. New season APW1 is still sitting around the $350/MT FIS mark and canola is hovering around $600/MT FIS. Barley posted the biggest losses this week with malt falling around $30/MT over the past seven days and feed declining about $25/MT. The drought on the east is still keeping prices buoyed and until there is a significant break in the east coast weather, this should continue into the medium term.

See you at Dowerin!

 

Prices as at 23rd August

 

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