Reid Seaby, Agfarm Regional Manager WA
Most of the state’s canola and barley has been harvested and growers are now pushing on with their wheat in the hope they wrap up before the Christmas period. Some areas of the wheat belt have experienced rain and/or thunderstorms over the last few weeks, but generally this has not significantly slowed harvest. There has been reports of some quality issues around Esperance as a result of recent rainfall events but thankfully they are well into harvest and the majority of grain will be in the bin within the next fortnight. High moisture levels have stalled harvest in southern parts of the Albany zone and there is a risk of falling numbers downgrading wheat if more rain falls during the remainder of harvest.
We’ve experienced more sideways price action this week as world market influences remain minimal. Exporters seem to be struggling to connect with overseas buyers at current prices which may see bids soften as traders search for demand.
H2 was unchanged this week at $285/MT Kwinana and so too was APW1 at $271/MT. There were small declines seen in the lower quality wheat last week but that has corrected somewhat this week with a $3/MT decline in ASW at $256/MT FIS Kwinana. There has been some movement in barley spreads with malt premiums coming off $10-15/MT over the past fortnight or so.
Photoed: Harvest progress in Wagin WA