Reid Seaby, Regional Manager WA
Very little has changed since last week. There has been no rainfall to speak of which has meant very little (if any) summer spraying and the strong prices over harvest have left growers heavily sold with very few tonnes left to commit. With farmers returning from a well-earned break, attention is now moving toward next year, and most are meeting with accountants and advisors to firm up plans for the coming year. Fingers crossed the forecast is inaccurate, but the recent seasonal outlook released by the BOM indicates a drier than normal weather pattern in WA for the coming three months.
There has also been a fundamental swing to next season’s prices too, although 2019/20 bids relative to 2018/19 prices are keeping people on the sidelines and they seem content to watch and see how things play out over the next couple of months. WA bids were softer this week right across the board with canola being the only exception. CAN1 bids climbed to the magical $600/MT mark in Kwinana which saw a little bit of grower engagement. The same cannot be said for barley however which fell $10-15/MT this week with feed settling at $300/MT FIS. Wheat bids were modestly lower but 2019/20 APW1 was unchanged at $295/MT FIS in Kwinana
Prices as at 24th January 2019
* View of current market pricing. Does not represent current Agfarm bids.