VIC Market Update – 23/11/2018

James Ryssenbeek, Agfarm Regional Manager VIC

Harvest is progressing well despite stops and starts this week with showers and cool weather. As far south as Warracknabeal, many dryland growers would be 50% finished now. Given the high per cent of cereal crops cut for hay, the total area being harvested has been significantly reduced, so for many harvest won’t be a long affair.

Barley and wheat quality continues to be good for most with high protein, solid test weights and low screenings. This is generally at a discount to yield which continues to be poor for many.

Grain markets continue to frustrate sellers. China’s anti-dumping news stalled barley markets for a day and continues to have an impact. Falling cash prices, though strong historically, are also frustrating growers who have had poor seasons as they need strong prices to offset yield loss. Those with grain, seem to be selling for immediate cashflow and retaining the balance onfarm or warehoused to market in 2019 in hope the markets recover to their highs a month ago.

Looking to prices, old season cereals are unchanged, while canola continues to come off. New season wheat was stable this week while barley and canola were both down $22/MT and $14/MT respectively.

Prices as at 22nd November

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

 
 
 
 
 
 
 
 
 
 
 

 

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