SA Market Wrap

By Chris Ward

10th August 2023

 

The South Australian crop is set up well as we reach the halfway point in the growing season and in football terms, head into the premiership quarter. Subsoil moisture is sufficient in most parts but a dry July has taken its toll in the earlier sown areas of the state. The days are certainly getting longer and as temperatures start to rise, well established cereals and canola are reaching maximum thirst for moisture.

South Australian growers have had their challenges, with pest and disease outbreaks and urea availability, however, most areas are placed in a better position now than at the same stage last year.

With the Ashes firmly in our grasp thanks to English rain, our growing season now has a ticket to ride pending the timeliness of what falls from the sky here during August and September and kind day and night time temperatures. Obviously these factors will determine the outcome of season 2023 from a yield perspective.

Behind the scenes SA Bulk handlers have worked feverishly to move last year’s massive crop through the system, setting new benchmarks for what can be achieved. With the backdrop of Aussie wheat values taking a ride of their own - wheat slowly became wheat as grade spreads tightened and we found ourselves back at the same station departed in February.

Old crop canola values, whilst riding on a different train,  have also returned to similar levels as February. A noteworthy fact of the canola market is the spread to GM has narrowed significantly to be less $20 to non-GM at time of writing.

From a new crop perspective, SA wheat markets at Port reached pricing levels in the 80%-90% percentile range - $390-$400/mt track. The ever present Ukrainian/Russian conflict, Northern Hemisphere crop size and our own eventual seasonal outcome being key factors as to where we go from here.

Cargill - AWB have launched a new online platform - ”Customer Hub”  which brings together a range of services, making it easier to sell your grain, view your finances and stay on top of your paperwork. Customer Hub upgrades the functionality from our old portals and is designed to save you time and simplify our services. It will also be the place to view our daily prices. 

Click on the Customer Hub link - Customer Hub (mycargill.com)

Once signed up and logged in - pair your NGR’s and you’ll be set all to go.