WA Market Update – 13/09/2019

“A lot of variation in crop maturity and potential but all will benefit greatly from a good rainfall event”

The dry start to Spring continues and the reality is, crop expectations are shrinking by the week. This week, parts of the Geraldton, Kwinana and Esperance cropping zones experienced temperatures in the low to mid 30’s, and if these conditions persist then crops will really struggle to hold on. That illusive 20mm rainfall event is becoming more critical by the day as crops draw on what little moisture is left in store.

However, warm temperatures haven’t been the only dilemma in the last couple of weeks, as temperatures last Thursday night and Friday morning fell well below zero in and around Esperance. Areas such as Salmon Gums, Grass Patch, Cascade and West River experienced temperatures as low as -5 for a sustained period which has unfortunately completely frosted some crops. This has left some with no option but to bale for hay, whilst others don’t have that luxury as the crops are too mature to cut.

The less than ideal growing conditions are having a positive impact on grain prices. It was a sea of green this week as bids jumped as much as $19 for some grades. APW1 in Kwinana was up $8 to $328 whilst ASW was the big mover, climbing well over the $300 FIS mark. Feed barley continued to be well bid, up $13 to $290 FIS in Kwinana. Canola’s move was less impressive, up $1 to $622 per tonne. 20/21 wheat is getting back up near $300 per tonne, ending $8 higher at $293.