SA Market Update 23/11/2018

Kate Phillips, Agfarm Regional Manager South Australia

Another week, another weather event! This time last week the weather was warming up and earlier this week I had the work shorts out as temps hit the high 30’s. Today (Thursday 22nd November) I’m sitting at the desk in a jumper and scarf as we reach a top of 14. You would be excused for thinking it is August, not November.

Wednesday this week the state experienced high winds, rain and in some areas hail storms. Rainfall totals have ranged from 5-40mm for the majority of growing areas, parking up headers that only just seemed to be going again after the last rain event. Some growers managed to put the headers away for another season as they raced the weather front to finish just in time. Seeing we’re not even into the last week of November, it will be an early pilgrimage to the river for some.

Damage from Wednesday’s storms across the state are yet to be clarified but early reports are that some will fair without issue and the rain will prove to be more of a nuisance than anything else. If, however the rain sticks around, we will probably start to see some flow on effect and even possibly some falling numbers machines being rolled out at delivery sites. There have been reports some growers who still had canola standing were hit quite hard by the hail and it will result in crop loss.

Prior to yesterday (Wednesday), SA harvest was really starting to ramp up with harvest progress sitting at around the 30% mark. The Mid North/Murraylands and parts of the Murray Mallee and Eyre Peninsular are charging towards completion with other areas such as the South East just starting to take a nibble. Quality and yield seems to be holding up and in some cases out doing expectations. Higher protein wheats and Malt barley tonnes are looking for homes along with canola and pulses.

Markets this week have continued the week on week trend of softening across the board. The China dumping reports have meant many buyers stepped away from the barley market at the beginning of the week and those stepping back in are doing so with a softer approach. Bids are around the $305/MT mark for Port Adelaide zone and $286/MT Port Lincoln zone. Growers continue to find positive delivered markets with SFW1 delivered Wasleys continuing to see tonnes sold at $375-380/MT along with strong delivered H2 numbers in Adelaide with bids sitting around $395/MT.

Pictured: Wheat in the Murraylands district. Photo credit: Steve Hein Agronomist Platinum AG Murraylands

 

Prices as at 22nd November

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

 

 
 
 

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