WA Market Update – 26/07/2019

By

Reid Seaby, WA Regional Manager

1.5 minute read

Not much has changed over the last week as crops in WA continue to become established after the slow start. Although the growth is behind normal, crops still have ample moisture and there is no great urgency for more rain at this stage. As we near the end of July the general consensus is a good rain in August will maintain the rage and a 20mm+ event in September will be required to assist grain fill and enable the crops to meet their potential. Production prospects do remain on a knife’s edge however and final yields will be heavily influenced by the spring. With the BOM forecasting an even chance of average rainfall during August – October we are likely to see some variability within regions, depending on if, where and when the rain falls.

Very little has changed fundamentally within grain markets and as a result, there has been limited grower selling the past week. The Black Sea region is coming to the end of their harvest and while there was some speculation the dry end to their season may impact production, there are now reports showing both production and quality have in fact increased. Despite this, bids in WA were well supported this week. 2019/20 wheat bids were up about $10/MT with APW1 landing at $310/MT FIS in Kwinana. Barley bids were also higher with feed up $16/MT to $275/MT FIS. Canola bids jumped back over $600/MT to $605/MT FIS Kwinana.

Prices as at 25th July 2019

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

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