WESTERN Australian grain handler, CBH, has taken in 348,590 tonnes so far as the state’s 2018 harvest gets off to a late start.

CBH general manager operations, David Capper, said the delay to the harvest was due to crops maturing inconsistently across the state, but all the same CBH has received more tonnes to day than at the same time last year.

“Showers are forecast over the next few days for parts of the state, so CBH is expecting some disruption to deliveries in some parts of the regions over the next few days,” Mr Capper said.

The Geraldton zone has led the way with 227,000t delivered so far, made up mainly of wheat, barley and GM canola.

Harvest in the Kwinana Zone has slowly been picking up over the past week, with most deliveries being made in the north of the Zone.

So far, the Zone has received 115,000 tonnes, which is mostly barley, and only small amounts of canola and wheat.

Receivals in the Esperance Zone this week have been very slow with 6500t delivered and weather causing moisture issues. This is likely to continue for the next week.

To date, the Zone has only received grain at the Esperance and Munglinup receival sites.

The Albany Zone has this week received its first deliveries for the harvest, with about 40t of canola delivered to the Gairdner Receival Site, and 50t of canola delivered to the Albany Port Terminal.

In its October crop report, the Grain Industry Association of Western Australia (GIWA) estimates WA’s 2018 winter crop will end up totalling 14.242 million tonnes (Mt), and could even push up to the 15Mt mark.

Market update

Barley

International demand remains positive for malt barley as maltsters look to cover their 2019 requirements.

CBH said it was too early to predict selection rates as harvest had only begun, however initial receivals suggest selection rates could be lower than previous years.

Grower selling is commencing, however feed barley values have remained relatively consistent this week, in the range of A$334-338 per tonne free in store.

Wheat

APW1 values to grower are in the mid A$350’s/t free in store (FIS) with good competition being seen across all zones.

Grower selling has commenced although we anticipate the majority of this selling to occur once harvest is in full swing.

Initial quality suggests slightly higher protein than first anticipated, which will be good for the market with the majority of buyers chasing Australian Hard. Interest from Eastern Australia remains for first quarter 2019 positions.

Canola

Interest from Europe had been slow to date however as the crop situation across the country becomes more concerning European buyers have entered the market. Early oil contents have been as high as 51 per cent reflecting a soft finish.

Canola values remains relatively strong at A$595/t free in store (FIS).

Source: CBH

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