Giles Ditchfield, Agfarm Account Manager SA
After an uneventful week rain-wise in South Australia, it looks as though the state is going to again miss out on downpours. The rainfall was only enough to settle the dust and if anything, it was more a of nuisance than it was helpful. There is no rain on the radar to talk about for the next fortnight. Growers are just hoping we see more days with cooler temperatures as opposed to the warm conditions we have been experiencing recently. The current cereal markets continue to rally, with F1 barley up $5/MT on last week and is now trading at $255/MT or better, while wheat is also trading higher with ASW1 and SFW1 at $243/MT and $238/MT respectively.
We have seen strong movements on feed grades, however the higher protein grades spread has narrowed. H1 is still trading at $290/MT along with APW1 which is at the same values as last week, while SFW1 and ASW1 are up $2-5/MT week on week. The canola market from last week again remains unchanged and we have seen the pulse market pick up delivered packers, with grower engagement and pricing interests increasing over the past seven days.
The delivered markets continue to show March-April deliveries on most buyers bids, as they look to cover themselves. Murray Bridge is currently trading at $250/MT for ASW1 for March, SFW1 is also at $250/MT for deliveries into Laucke Daveyston. F1 into Semaphore is trading at $260/MT, with there being a spread of +$12.MT to SO1. The H1 number has also increased to $297/MT.
Prices as at 23rd Feb 2018