WA Market Update – 23/11/2018

Reid Seaby, Agfarm Regional Manager WA

It was another slow start to the week due to weather related disruptions. Hail, rain and fires through the Geraldton and Kwinana zones caused delays and even caused crop damage in some instances. However, CBH have said despite the slow start in the Albany and Esperance zones harvest is progressing well with total grain receivals around 4.5MMT.

Yields in the Geraldton zone and the northern Kwinana zone have been exceptional and as a result we have seen some of the trade raise their barley and wheat production estimates. Most are now confident total harvest grain deliveries into CBH will be close to 16MMT with wheat making up around 60% of this and barley around 25%. The crop size will however be ‘dragged down’ by the poorer yields in southern areas where frosts, wind damage and lower growing season rainfall were experienced.

WA prices lowered over the past week as wheat and barley yields continue to come off better than expected and growers maintain a consistent sales program off the header. Unfortunately, this combined with China’s announcement of an anti-dumping investigation saw feed barley bids drop $30/MT on Monday. Thankfully bids recovered and have nearly clawed back to levels prior to the announcement. Feed barley in Kwinana ended down only $5/MT for the week to $310/MT FIS in Kwinana while the move in malt was a little more severe, down $19/MT to $354/MT FIS. Canola fell away again this week to end the week at $576/MT FIS but wheat held on to be relatively unchanged. APW1 in the Kwinana zone was being bid to the grower at $350/MT FIS.

 
 

Prices as at 23rd November 2018

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

 
 
 

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