WA Market Update – 19/07/2019

Reid Seaby, WA Regional Manager

1.5 minute read

A sunny week across WA has accelerated plant growth rates and enabled growers to get on to paddocks and apply herbicides and additional nitrogen. For the most part, crops are in very good condition, albeit later than average. The later start should however mean crops are flowering outside of the frost window. In addition to this, soil moisture is very good across the state, so everything considered, things are pretty positive for the time being.

Although crop conditions are good now, we certainly recognise it is only early in the season and there are plenty of risks ahead. Although moisture isn’t a limiting factor at the moment, we will be heavily reliant on a kind spring with low temperatures and average to above average rainfall. This will be even more critical around the eastern Albany and western Esperance zone which experienced a drier June than everywhere else.

The markets were pretty quiet this week and a little mixed. The July USDA report was ‘bullish’ wheat, but it ultimately showed there will be sufficient stocks to meet demand, hence the resulting flat tone. Wheat bids in Kwinana were slightly higher as accumulators seek to find a price where growers will engage again. APW1 was up $5/MT to $300/MT FIS. Feed barley was essentially unchanged at $259/MT in Kwinana, but malt values fell away slightly to $285/MT FIS. No news with canola again as it continues to sit around $600/MT FIS in Kwinana.

Pictured: Crops progressing nicely as they soak up the sun

Prices as at 18th July 2019

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

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