Reid Seaby, Agfarm Regional Manager WA
Although there were some isolated thunderstorms extending from the northern wheatbelt down to the south coast this week, WA has mostly seen another good week of weather. CBH receival points have started to extended their hours and headers seem to me rolling in all port zones. There are some areas contending with high moisture levels, particularly in the south where grain yields have been very good so far. Unfortunately frost damage looks to be more widespread than first thought in this region and will have an impact on total tonnes for all grains.
The canola market has strengthened again this week with prices reaching $570/MT. The lack of confidence and inability to forward sell canola prior to harvest has been a blessing, as farmers are now able to take advantage of a market which is slowly trending higher. Despite good values for APW wheat at $275/MT FIS, the focus is on canola and barley to fulfill any cashflow requirements. Western Australian wheat values are now becoming more competitive internationally, assisted by the weakening Australian dollar and an uplift in values out of the Black Sea.
Photoed: Wheat ready for harvest near Trayning
*Prices as at Thursday 16h November