WA Market Update – 9/11/2018

Reid Seaby, Agfarm Regional Manager WA

Harvest has officially started in all four port zones with CBH receiving their first delivery in the Albany port this week. As of last week, CBH had received 400,000MT of grain across the network, a number that will increase dramatically over the next couple of weeks as everyone moves toward making a start. The majority of deliveries to this point have been canola and barley. Canola quality has been reasonable and most barley has coming in as feed. Yields in barley have been a little better than most were expecting so let’s hope that trend continues as harvest moves south into Kwinana and Albany. There has unfortunately been some stories of crops punished during the dry spell in September experiencing poor yields as a result.

Prices have moved against growers over the last week. Although barley prices have come under significant pressure over the last couple of weeks, growers continue to be relatively comfortable chipping away with their sales strategy given the historically high price and solid yields. Feed barley bids fell $22/MT over the last seven days to $316/MT FIS Kwinana and malt dropped $19/MT to end the week at $374/MT FIS. APW1 was off $4.50/MT and remains strong at $355/MT FIS in the Kwinana zone.

Pictured:Pictured: Swathed canola near Wagin WA

Prices as at 1st November 2018

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


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