WA Market Update – 22/02/2019

Reid Seaby, Regional Manager WA

I have spent this week travelling from Dalwallinu to Gnowangerup with Tom Guthrie, General Manager Agfarm, attending grower events Agfarm have been hosting with Primaries of WA. All meetings were really well attended with the audience hearing from subject matter experts about grain markets, soil chemistry, new chemical technologies, livestock and wool markets. While driving the 1500 odd KMs we observed a lot of dry landscapes, very few summer weeds, some dry dams and I suspect farmers have been feeding stock to supplement their nutrient intake.

Grain markets maintained their bearish tone and continued to slide this week. Although demand remains poor it is difficult to understand why futures fell away as much as they did. Regardless, the result is a sea of red this week with all grades and commodities ending lower than where they were being bid seven days ago. APW1 in Kwinana fell a whopping $22/MT to $343/MT FIS, feed barley dropped $3/MT to $280/MT and canola was down $15/MT to $565/MT FIS. New crop wheat was also softer at $289/MT FIS in Kwinana, $6/MT lower than last week.

Prices as at 21st February 2019

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

 

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