SA Market Update 03/05/2019

Kate Phillips, Agfarm Regional Manager South Australia

2 minute read

There was a strange occurrence in SA this week… it rained! Now while there hasn’t been a lot, it has fallen and has, if nothing else, settled the dust and given the weeds on my lawn a drink. The BOM was giving us hope of falls between 20-30mm. This proved correct for areas from the Eyre Peninsular to the Yorke Peninsular and into areas of the mid north. Unfortunately, for other areas around the state such as the Murray Mallee and areas of the south east, little to no falls were recorded. There does appear to be the possibility of rain on the forecast towards the back end of next week and this will hopefully provide some relief for those who have missed out on this week’s rainfall and provide follow up rain for those who were lucky enough to have already received some.

Despite the dry, sowing continues across the state with some growers making the decision to dry sow. Others are taking a more conservative approach and will wait for the opening rains before commencing. While we’re in the midst of the ‘ideal’ sowing window, there is still plenty of time to get a crop in the ground or to make the decision not to.

Wheat has seen a softening over the past few weeks with consumers fairly well disengaged. Barley has remained more buoyant with stock feeders continuing to engage and fulfill their feeding requirements. This is hardly surprising with most of the state’s agricultural land resembling a moon scape. The delivered market continues to provide some good options for those who have grain remaining on farm.

In new crop markets, barley and canola are the pick. Canola has seen an upward swing of between $8-11/MT from the last Agfarm weekly report to sit in the range of $541-543/MT. There is a fair bit of chat around canola hectares being well down in SA this year, so it will be a wait and watch scenario to see if the new crop bid reacts to this. Barley has seen some small increases in the last week or so with Port Lincoln being bid $230/MT and Port Adelaide $240/MT. As mentioned previously, wheat has seen a softening over recent weeks and it will be interesting to see what the recent, and possibly continuing rainfall, will do to these numbers.

 

 

Pictured: Another picture perfect sunrise in Springton SA

 

Prices as at 2nd May

* View of current market pricing. Does not represent current Agfarm bids.

 

Follow us on social media