WA Market Update – 01/02/2019

Reid Seaby, Regional Manager WA

It’s been a quite week in WA with school returning and everyone moving back into regular post-holiday routines. The boomspray hasn’t seen much action this year which has obviously resulted in less money spent on summer sprays but in turn means there is very little subsoil moisture at this point in time. The benefits of summer rain is generally a hotly debated topic so I dare say the vote is split 50:50 between those who wish they had the moisture and those whose preference is to have less money spent on chemical applications.

Markets have been very quiet of late and that trend continued this week. With a lack of fresh news, WA pricing eased slightly and new crop prices fell away too. The higher grades performed the worst with H2 bids in Kwinana dropping $10/MT to $392/MT FIS. Barley and canola markets also suffered with feed bids falling below $300/MT FIS and canola ending at $585/MT FIS in Kwinana. Fundamentally there does seem to be a bit of concern about the lack of wheat globally with the Black Sea region well down on last year’s production and the EU producing its smallest crop in sometime. Having said this, new crop wheat was off $10/MT week on week.

Prices as at 31st January 2019

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

 

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