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Markets remain mixed after WASDE

November 16, 2017

Markets have continue a mixed trading theme since the USDA updated their WASDE forecast last week.

Grower selling across the country is tending to follow harvest progress as both quantity and quality becomes known. It does appear (generally speaking) that the crop as a whole has performed better than what the season has delivered in terms of in-crop rainfall. While not all farmers have experienced this outcome it should provide marketing opportunities for cereals and canola over the harvest and new year period.

The counter to this argument is that the shipping or export program at this stage has an orderly feel to it. So until we see international customers step into the market in style (or we get a big overseas move in price or Aussie dollar) we may see prices crab side-ways over the coming weeks.    

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