Agfarm extends pools closure date to accommodate season’s lateness
SERVICE provider to Australian growers, Agfarm, extended the closing dates of its Advantage indexed selling programs in response to the nation’s late harvest.
Advantage 2, 5 and 10 programs for all grades of wheat, barley and canola will close for transfers on January 18, 2017 at 5pm.
Agfarm Advantage program manager, Chris Coore said the weather impact on crops this season has been significant. “On one hand it has contributed to Australia’s record sized winter crop. On the other hand, the continuous wet throughout spring and into summer has pushed harvest back up to four weeks in some areas, resulting in logistic issues and delaying marketing decisions,” Mr Coore said in a statement.
“Looking forward, we are starting to see signs of price volatility and production risk in the world market, which will suit an average price selling program like Advantage.”
Agfarm’s Advantage programs are designed to capture rallies outside the harvest period. Advantage 2 sells a 50% portion of grain in the months of January and February. Advantage 5 sells a 20% portion each month from January until May, and Advantage 10 sells a 10% portion each month from January until October.