Well, isn’t this the multi-million-dollar question? We have talked a lot about the dissatisfaction many growers felt at pricing deciles across most commodities at harvest time. Looking back historically on post-harvest rallies, we can see that the odds of at least one significant price spike between January and July is high. Markets vary from one year to next, with potential global disruptions causing spikes in the supply and demand of grain influencing local prices. The key is to ensure that you have your pricing alerts set up to make sure you don’t miss out when things get hot.
Talking statistics, post-harvest public published bids have eclipsed the harvest period top bids (1st Oct – 31st Dec) in every season for the last 4, except for the 2022-23 harvest, where the peak was the end of December 2022 at $486 for APW1 in the Kwinana zone, with the next highest spike in July at $420 for the same zone and grade. Canola CAN1 pricing tells a slightly different story, with a regular June/July spike, before the Canadian crop becomes available for purchase.
Growers who hold onto their canola are definitely more accustomed to risk-taking, given the number of shipments of canola that take place in the shipping harvest window in WA. With February being the time for forward planning and the ever-growing task of farm budgets, we urge our members to jump online and use the ‘Charts’ function to see what might be possible to achieve with the pricing targets this year.
As always, the team is here to talk you through any questions you might have on price discovery and the online grain ‘matchmaker’: MarketPlace!