SA Market Update 05/04/2019

Kate Phillips, Agfarm Regional Manager South Australia

I am ready to start a rain dance if anyone wants to join? Even with the cooler temperatures and grey clouds, little to no rain fell across the state this week. The plant 19 kick looks as though it will be a dry event for most areas. It would seem South Australia might even take the prize for the driest start to the season. The cooler days of last week are also fading as the temperatures heating back up to the mid-30s.

The domestic feed market is where most market activity seems to be at the moment. We’re seeing a fair bit of over the fence feed sales along with system sales into the livestock feed market. 2018/19 F1 barley is finding homes at around the $355/MT mark with growers reporting handshake trades with neighbours at similar levels.

For those looking to lock in forward sales contracts as part of their sales program, Port Adelaide zone wheat APW1 multigrade is sitting sub $300/MT at $295/MT with Port Lincoln zone $5/MT behind at $290/MT. There has been a slow crawl towards the $300/MT trigger mark, it will be interesting to see how many lock in at these numbers on the back of a lean year for some last year and a dry start to this one.

There are still premiums to be found in the higher protein wheat grades. H1 is sitting at around + $35/MT at $370/MT Port Adelaide. Barley, as has been the case for a number of weeks, is showing no premium to malt and it is very much a story of barley just being barley. Canola new crop bids as slightly softer this week.

 

 

Prices as at 4th April

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

 

 

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