WA Market Update – 15/03/2019

Reid Seaby, Regional Manager WA

Dry weather has persisted across the state again this week leaving most of the wheat belt and the further inland low rainfall areas with no subsoil moisture. This remains inconsequential for the time being, but growers will want to see some good rain in the next month or so to give them greater confidence leading into the latter half of April. Not unlike the rest of the country, canola plantings are likely to be replaced with barley unless the current weather pattern turns around very soon. Speaking of which, the BOM released their updated April to June outlook which is appearing more positive than their previous report; some of inland WA is now likely to be wetter than average. With seeding only five or six weeks away we are starting to see a lot more machinery gathering around sheds and workshops as farmers prepare for the season ahead.

 
Grain markets were mixed again this week with wheat flat to slightly down, barley pushing higher and canola essentially unchanged. Old crop APW1 bids in Kwinana fell $3/MT and new crop was down $4/MT to end the week at $285/MT FIS. Barley’s ‘resurgence’ continued as feed bids popped $7/MT to $294/MT FIS in Kwinana. Grower selling continues to be absent but those holding old crop are monitoring targets closely.
 

Prices as at 14th March 2019

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

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