Reid Seaby, Regional Manager WA
Happy New Year to you all, best wishes for a successful 2019.
Harvest is now obviously winding down with only later crops in the Albany and Kwinana zones remaining to be harvested. Of the 450,000MT delivered to CBH last week 350,000MT was received in the Albany and Kwinana zones and the balance essentially came from Esperance. Total CBH grain receivals exceeded 16MMT this week of which around 9.4MMT has been wheat, 4.7MMT barley and approximately 1.4MMT canola. Excluding the possibility of unfavourable weather, WA’s second largest harvest on record will conclude in the next seven to 10 days.
Markets have remained firm and should theoretically continue to do so until later in the year given the severity of the drought in the eastern states and the impact this has had on domestic supply. There however remains some uncertainty within barley markets given China’s recent anti-dumping investigation and given the importance of continued access to Chinese markets, growers continue to watch how this story will play out with interest. Feed bids were $5/MT higher week on week at $310/MT FIS Kwinana while malt values jumped $10/MT to $320/MT. Wheat bids were also stronger with APW1 in Kwinana ending the week at $385/MT, H2 at $410/MT and ASW1 was $7/MT higher to be $352/MT FIS. 2019/20 wheat prices were unchanged at $302MT FIS in the Kwinana port zone.
Prices as at 10th January 2019
* View of current market pricing. Does not represent current Agfarm bids.