Rally sees tonnes move
October 5, 2017
A rally in local prices last week saw tonnes move throughout the state. Both wheat and barley bids were strong, around $271 for APW1 and $240 for F1 across Pt Adelaide and Pt Lincoln port zones, with Wallaroo, Pt Giles and Thevenard not too far behind.
Unfortunately for growers this rally was short lived, with prices back around $10-15 this week. This was on the back of the USDA quarterly stocks reports on Friday night, in which estimates of US production were higher than the market expected, sending US wheat levels lower.
With the first load of SA grain received for the 17/18 season last week, it won’t be long until things are in full swing. ADM wishes all growers a safe and prosperous harvest!