SA Market Update 18/04/2019

Kate Phillips, Agfarm Regional Manager South Australia

The only thing I can see on SA’s forecast in the next week is a delivery of Easter eggs on Sunday morning. There is a slight chance of some falls, but this is likely to disappear over the coming days, as has been the case since the start of the year.

It’s a dry start to sowing 19 as expected and with the start has come a quietening in the market. Everyone is just watching, and it is likely to stay this way until the market gets a bit of a feel for how the season is likely to progress.

Over the past week APW1 wheat has come back slightly for the Port Adelaide zone and with it has brought a softening in the premiums for the higher protein grades. The new crop market continues to hold firm with growers able to lock away forward contracts for APW1 multigrade wheat at $295/MT. Growers are also able to fix grade spreads or look to keep these floating. The new crop barley market is level week on week with only new crop canola for the Port Lincoln zone showing a slight weakening, back -$3/MT to sit at $530/MT. There hasn’t been a tonne of new crop contracts written at this stage and with the weather and conditions as they are, this is completely understandable.

There has been increased interest in the sheep feed market across the state. F1 barley is being secured at $350-355/MT delivered farm mid north with a $5-15/MT spread down to F2/F3. For those still holding wheat onfarm there are delivered bids for ASW1 delivered Murray Bridge at $341/MT and SFW1 delivered Wasleys at $334/MT.

I wish you all a happy Easter. May you get to pop your feet up for a well-deserved rest at some stage over the break.

 

Pictured: Picture perfect in Kimba SA

 

Prices as at 18th April

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

 

Follow us on social media