WA Market Update – 12/07/2019

Reid Seaby, WA Regional Manager

1.5 minute read

More rain at the end of last week kept rainfall tallies ticking over, further bolstering crop prospects and adding to the already better than average moisture profile. The front brought falls of up to 50mm, with the northern and eastern wheatbelt faring the best. Thankfully the western parts of the Albany zone and eastern parts of the Esperance zone, who have missed out on much of the recent rain, had falls of around 20mm. These areas do however have little stored soil moisture so will rely on consistent rain moving forward to achieve average to above average yields.

Conditions are excellent in most of the state’s cropping areas and some coastal parts are bordering on too wet, so the fine weather forecast for the next week or so will be a welcome change. Growers are taking advantage of the sunshine and are now busy applying nitrogen and their first round of post emergent sprays.

Markets were generally a little softer this week with the catalysts being the easing crop concerns in WA, SA, Vic and the softer tone in US markets. Both canola and barley bids are unchanged from this time last week, but wheat has come off a little bit. APW1 bids in Kwinana fell below $300/MT this week, down $6/MT to $295/MT. Other grades were also lower but red crop APW1 was steady at $290/MT FIS in Kwinana.

Pictured: Soils are wet and crops are progressing well in WA

Prices as at 11th July 2019

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

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