WA Market Update – 20/12/2018

Reid Seaby, Regional Manager WA

Not too much has changed over the last week other than further harvest progress around the state and parts of the Geraldton, Kwinana and Esperance zones really beginning to wind down – successfully meeting their Christmas deadline. The trend of crops yielding better than expected continued right throughout harvest in the Geraldton zone and as a result, total production will be around 3MMT for the year. Both canola and barley have performed really well and one would expect this to see planted area to these commodities increase in the north again next season.

Assuming harvest this week has progressed at the same rate as last, Albany is now probably around 70% complete and we have a good feel for the quality and yield profile of the region. Western parts of the zone are looking at an above average harvest but grain yields do drop off in eastern areas of the zone due to frost and lower than average rainfall. Canola yields have been very variable with better crops yielding over 2MT/ha and poorer crops going as low as 0.3MT/ha. Barley yields have generally been quite good and it seems there has been a higher percentage of barley being delivered as malt.

There were a couple of isolated storm events on the weekend. A perfect example came from Welbungin where a grower had 47mm of rain while areas neighbouring the property had nothing.

WA wheat markets were very well supported again this week with APW1 bids reaching $400/MT FIS Kwinana earlier in the week. All wheat grades were higher with H2 up $11/MT and ASW1 up $8/MT climbing to $351/MT FIS. Barley was softer with malt bids falling $7/MT and feed down $5/MT. Given the strength in prices it is no surprise that growers continue to make further wheat and barley sales.
 

 

 

Prices as at 20th December 2018

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

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