WA Market Update – 19/10/2018

Reid Seaby, Agfarm Regional Manager WA

I spent a couple of days on the road this week meeting with the Primaries/CRT network and speaking with a number of growers. During the two days we travelled to Corrigin, Hyden, Lake Grace, Gnowangerup and Mount Barker, covering about 1000km and seeing the variability in crop potential, consistency and maturity throughout the southern region. There were many paddocks cut for hay around Corrigin and Gnowangerup but it’s difficult to quantify the amount originally planned for hay compared to the volume resulting from frost damage. Obviously, crops further to the south are less advanced than those in the north and will hence benefit from the recent rains. Further falls were experienced over the past week and it seems the central part fared the best with cumulative rainfall totals of up to 30mm for the week.

Harvest begun in the Geraldton zone this week with the first load of canola delivered to the Geraldton port on Tuesday. CBH Zone Manager, Duncan Gray, is expecting some barley receivals in the coming days and for harvest to crank up in another 10 days or so.

A reasonably uneventful week in markets and while canola gave a bit away, the move was positive in wheat markets. APW1 in Kwinana was $4/MT higher at $368/MT, H2 ended $6/MT higher at $387/MT and the lower grade ASW1 pushed $7/MT higher to be bid $355/MT FIS in Kwinana. Barley was unchanged but malt values around $400/MT remain hard to ignore and feed continues to maintain its strength around the $350/MT FIS mark. Canola bids were $3/MT to $5/MT softer with CAN1 finishing the week at $612/MT FIS.

 

Prices as at 18th October 2018

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

 

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