Reid Seaby, Agfarm Regional Manager WA
Crop conditions throughout the state continue to improve despite the colder temperatures experienced this week. The fine weather following last week’s rain has provided ideal growing conditions which is benefiting crop development. Crops are now in generally good shape having made up a little ground after the later than ideal start to the season. A large part of the Geraldton zone had between 30-60mm last week which together with the pre-seeding rain should see crops manage comfortably for the remainder of the season without having to rely on huge rainfall events. In contrast, the Esperance and eastern Albany zone had <20mm last week and will remain ‘hand to mouth’ until they receive a substantial soaking to form a moisture profile, which is effectively non-existent for large areas at this moment. The Kwinana zone is reasonably good and with falls of between 20-30mm last week as far east as Southern Cross, the majority of the zone is on track to achieve above average yields.
Domestic grain markets were generally lower this week with the obvious exception of barley. Malt jumped $10/MT to $320/MT FIS Kwinana and BFED1 was $7/MT higher to end at $288/MT FIS. Most of the attention has turned to new crop wheat but all old season wheat was lower, dropping between $1-6/MT week on week. 2017/18 wheat was also down slightly, falling only $2/MT to $298 FIS. The canola market remains stable for the time being with CAN hovering around the $565/MT FIS level and CAG sitting at a $30-35/MT discount.
Prices as at 12th July