Tom Guthrie, General Manager Account Management
1 minute read
Western Australian grain growers are back on the tractor this week furiously getting the crop in ahead of the front which is due to hit the west over the weekend.
If the rainfall forecast makes it into the gage then a large part of the WA cropping belt would have received a significant drink/break in the season. Albeit it is very late, and we will need a kind winter and spring to see this one home! WA will see more hectares planted once the rainfall is confirmed and the late plant should favour barley and short season wheat varieties.
The positive forecast across Southern Australia, strong cereal production prospects in the northern hemisphere, the US corn crop going backwards, and associated futures volatility has pushed cereal values lower during the week. New crop grower selling has also slowed on this pull back.
WA wheat has become more compelling globally on this move lower, relative to both cash and US futures.
Pictured: This paddock in Mukinbudin WA will very much appreciate the forecast rain.
Prices as at 6th June 2019
* View of current market pricing. Does not represent current Agfarm bids.