WA Harvest Report - Over 5 million tonnes delivered in WA so far this Harvest

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This week we reached more than 5 million tonnes delivered into the network to date.

Variable weather conditions were experienced across all zones with hot and windy weather over the weekend resulting in some harvest bans. Once the bans were lifted, the warm and dry weather made for good harvesting conditions early in the week, followed by cooler weather in some areas slowing harvest progress.

"We had our largest week to date, receiving 1.9 million tonnes, but this was lower than it could have been given cooler weather over the last few days" said CBH General Manager Operations Ben Macnamara.

Wheat tonnes have increased this week with around 2 million tonnes in the system.

"Whilst deliveries are down, given the smaller crop, site enhancements that we made prior to harvest are seeing some significant improvements in site cycle times, for example at Moonyoonooka, Wickepin and Merredin," said Mr Macnamara.

CDF deliveries are still averaging around 90 per cent of loads delivered via the app across network.

Zone Summary

Geraldton zone

· Warm weather over the week made for perfect harvesting conditions.

· Growers are starting to wrap up their programs with some finishing this week.

· Two sites closed for the season this week with the possibility of more to follow in the next week as the zone starts to wind down.

· We are seeing a welcome trend of better than expected crop quality.

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Kwinana North zone

· Harvest bans over the weekend slowed deliveries, but the rest of the week has seen good weather conditions, which are forecast to continue into next week.

· Harvest will start to wind up in some areas next week and we will closely manage site opening hours with a view to close some sites for the season if needed.

· The majority of grain coming in now is wheat.

Kwinana South zone

· Harvest bans over the weekend slowed deliveries, but the rest of the week has seen good conditions.

· Some of the slower to start areas are now picking up with the zone having its biggest receival week to date.

Albany zone

· Weather has been favourable for most areas with the exception of some heavy wind and rain between Cranbrook and Albany mid-week which saw some sites closed for a short period.

· All areas across the zone are in full swing, with the western areas moving strongly.

· Tonnes are being moved across the network with shipping due to start from the Albany Terminal this week.

· Barley tonnes are still coming in strong, making up majority of receivals. Wheat is beginning to come in as canola eases off.

Esperance zone

· Weather during the week was excellent which saw growers moving quickly through their harvest program, with many expected to finish in the next few days.

· Wheat is now making up the majority of receivals.

· Yields have been lower than expected generally, but quality has been better than expected.

*Tonnes stated are accurate as of 3am Friday 22 November.

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Market Update

Wheat

Wheat market continued to move sideways with prices at A$330 per tonne for APW free in store (FIS) Kwinana. Grower selling has been very quiet with majority of growers waiting until the end of harvest before marketing their tonnes. However, Australian Noodle Wheat prices have continued to increase as the market looks to cover shipments and a tighter S&D is evident. Higher protein receivals continue with limited stocks of lower protein product, which was the mainstay of the industry last season. This is compressing spreads between high and lower protein grades as the feed markets of east coast and the Philippines are focused on the lower protein grades. While there is select international interest on the higher protein grades, this is limited as Australian higher protein wheat competes with Russian, Canadian and US wheat.

Barley

The main story this week is the continuation of low malt selection rates with less than 20% of the WA crop meeting malting specifications. This should place a floor in malting prices as the market looks to secure supplies.

Canola

Canola market continues to strengthen in the Kwinana zone with GM canola up to A$585 per tonne FIS as a number of the trade attempt to cover their shorts. These prices are up A$30 per tonne since the beginning of the month. Non GM canola was also up over the week trading at A$630 per tonne FIS Kwinana as once again the trade looks to cover European crusher demand.

Oats

Oat prices remain firm on the back of domestic and container packing interest with prices in the range of A$365-370 per tonne FIS. Limited supplies and a reluctance from growers to sell has ensured a firm market in the short term. However, on the international side Australian prices are well above European and South American oats which may see Australian oats become uncompetitive later in the year.

Lupins

Internationally the market for lupins has been surprisingly robust as customers require a small percentage of lupins in their feed rations for consistency. This has resulted in the international market paying higher values than the domestic, a market dynamic not seen for a number of years. Lupin prices have continued to lift with levels now in the A$430s per tonne FIS Kwinana.

www.cbh.com.au