Reid Seaby, Agfarm Regional Manager WA
It has been dry across the vast state of WA this week, and that trend is looking to continue throughout next week also. There is a weak low-pressure system that may be developing off the southwest corner of the state and could pass through on Monday, but it won’t bring any significant falls, particularly through the agricultural regions.
Although international futures have been quite volatile over the last fortnight, local values have remained steady in comparison. Although futures have risen and fallen, the moves haven’t been fully reflected and prices have remained relatively flat. Kwinana APW1 remains around the $285/MT mark, feed barley was down $8/MT from last week to $277/MT, and Kwinana canola values were also softer. Kwinana BS1 prices have spiked $21/MT from last week, illustrating an obvious desire to accumulate for one market participant – be it a short or otherwise. Kwinana 2018/19 APW1 is up to $288/MT FIS which has enabled growers to make a start to new season sales or add to their 2018 sales program.
Prices as at 23rd March 2018