WA Market Update – 07/12/2018

Chris Nikolaou, General Manager Merchandise

As of November 30th, CBH estimated 2018/19 winter crop deliveries stood at approximately 7.2MMT. This constituted a week on week delivery increase of over 2.3MMT. Expectations are for similar deliveries over the week commencing December 3rd. This would bring harvest receivals to approximately 65% complete with wheat closing in on the 40% mark.

Barley markets continue their soft tone since China announced an anti-dumping investigation into Australian barley last month. FB1 barley values for the Kwinana zone currently stand at $300/MT FIS. In the meantime, exporters are focused on executing their existing China barley sales as quickly as possible before a potential tariff is set. This tariff uncertainty has led to new China business not getting set. One can see the result in the bids over the last three weeks.

WA wheat markets continue to hold with expectations that the smaller national crop should see adequate demand off shore and on the east coast which is deficit this season. Shippers are chasing Kwinana milling wheat for nearby movements. The later harvest (albeit catching up) has led to a scenario where shippers are struggling for cover on December shipments.
 

Prices as at 6th December 2018

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

 

 
 
 
 
 
 
 
 
 
 

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