Reid Seaby, Agfarm Regional Manager WA
The market has once again been kind to the grower this week, with parts of the Northern Hemisphere wheat growing regions continuing to experience dry conditions. Weather in Argentina has also been making headlines, with the dryness pushing prices to levels not seen in about 12 months. The surge in international futures has supported local bids. Kwinana APW1 was $12/MT higher at $290/MT FIS, H2 was up $15/MT at $305/MT and ASW was up $10/MT at $271/MT. Barley prices were relatively stable and canola bids jumped $8/MT in the Kwinana zone.
Believe it or not there were further storms in pockets again this week, taking the annual rainfall as high as 200mm in some areas. Given we are now into March, growers are starting to believe they will see real benefit from this moisture which is triggering enthusiasm and positivity for the growing season ahead. I’m sure the long hours spent on the boomspray will be worth it!