WA Market Update – 9/3/2018

Reid Seaby, Agfarm Regional Manager WA

 

 

This week’s thunderstorm activity was confined to the Central West with places surrounding Mullewa and Northampton receiving over 20mm on Sunday afternoon/evening. The remainder of the southern half of the state was predominantly dry with mild temperatures, warming toward the end of the week. The majority of growers have now completed their budgeting, and as a result it has been pleasing to see increased interest in delayed input finance options like Accelerate. For those finalising their capital requirements for the upcoming season, it is important to recognise the benefits Agfarm Accelerate and CSBP Grow Now, Pay Later can provide to the cash flow of your operation.

Wheat and barley continue to display reasonable strength, which is predominantly due to the bullish tone we are seeing in global markets at the moment. This has obviously benefited those who have adopted a hold strategy on old crop, albeit generally a small percentage of their total production. APW1 in Kwinana was essentially unchanged, so too were barley and canola bids. The H2 spread in Kwinana narrowed but the volatility in spreads probably isn’t surprising for this time of year. New crop sellers’ focus seems to be on barley sales at this stage, given the price is justifying any production risk that is being adopted.

 

 

Prices as at 9th March 2018

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