WA Market Update – 29/03/2019

After seeing some patchy rainfall in parts of the WA cropping areas last week, the cyclones that formed to the north failed to deliver on the possibility of further heavy rain this week. This leaves the northern cropping areas without a decent rainfall event this season and hence a lack of subsoil moisture as we move into April. In contrast, some parts of the central wheatbelt, south west and great southern have had some handy falls over the past month and as a result, growers are more likely to plant a little earlier in these areas. It will be interesting to see whether farmers decide to spray to preserve the moisture or whether they wait and proceed with a single knockdown prior to seeding in May.

Markets were quiet again with most bids drifting lower week on week and liquidity remaining poor. Very little old season grain remains unsold and those who have held until now seem happy to continue holding longer term. Old crop wheat bids softened as APW1 fell $4/MT to $325/MT in the Kwinana zone. New season wheat prices did, however, remain unchanged on last week, with APW1 MG Kwinana at $285/MT FIS. Old crop feed barley prices were also unchanged however canola prices failed to gain any support.