WA Market Update – 31/08/2018

Reid Seaby, Agfarm Regional Manager WA

There has been more good rain across most of WA this past week, with all cropping areas receiving between 5 – 25mm. Given the better than average soil moisture levels, 5mm rainfall events are benefiting the crops, however the later sown and less advanced paddocks will require a soft finish to meet their full potential. Frost risk remains at the forefront of minds with many crops now coming into ear and flowering. The other factor playing on grower’s minds is the potential for warm and dry weather which could detrimentally impact yields during the seed development stage. We all have our fingers crossed that neither occurs and the weather remains mild through September.

Wheat bids have fallen and were down as much as $25/MT week on week, but yesterday’s jump left APW down $10/MT at $340/MT FIS Kwinana. The fall has been in response to the decline in international markets, but our bids remain strong relatively speaking and we remain in the top 10% of historic prices for APW. Barley also dipped this week but has come back to where we started with buyers bidding close to $360/MT FIS Kwinana for malt and around $320/MT FIS for feed. Growers again need to remember that although we have seen bids fall dramatically in the past fortnight, prices remain at historically high levels and present good sales opportunities where production permits. Canola bids were off $10/MT to $588/MT FIS Kwinana.

 

Pictured: Everlasting. The wet year has meant a good season for native flowers.

 

Prices as at 30th August

 

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