SA Market Update 15/02/2019

Kate Phillips, Agfarm Regional Manager South Australia

Prices took a tumble over the past week and it was near impossible to rid the annoying ‘down down, prices are down’ jingle from my head. Thankfully we’re starting to see markets balance themselves out and in turn prices are moving back into positive territory.

It was nice to see some of the great state receive a small drink over the past few days. For most, it won’t have put enough in the rain gauge to bother pouring out, but other areas such as parts of the Murray Mallee received 10-13mm. Unfortunately, the eight-day BOM forecast isn’t showing this will continue over the coming fortnight. We are however experiencing cooler temperatures, which is a nice change to the record breaking heat the state has recorded over the past month.

 
 
 
Last week saw the National CRT conference held in Adelaide. It was great two days and ideal to catch up with all our affiliate rural stores in the one place. Next week sees me back on the road travelling through the Eyre Peninsular. If you are keen for a chat about grain markets or any of the Agfarm programs, feel free to drop me a line 0438 128 472.

In grain market news as mentioned above we have seen a softening in the cereal market, although we’re starting to see it climb again. Growers continue to remain ambivalent with current pricing levels although we are seeing the occasional buyer step in to accumulate higher wheat grades and pricing accordingly. The barley market has followed the wheat market with across the board softening. The premium from feed to malt barley has all but gone but feed barley continues to remain well north of $300/MT. The star of the show at the moment is beans with growers who have held onto stock able to lock in prices north of $1100/MT.

Delivered markets continue seeing demand into both Murray Bridge and Northern Adelaide homes along with those key homes in the mid north. Current pricing levels continue to sit at around $320/MT for feed barley and $380/MT for ASW1 wheat. H1 into Adelaide is $405/MT and SFW1 into Northern Adelaide is $365/MT.

Prices as at 14th February

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

 

 

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