Market Morsel: ‘Just add water’
After spending five years in WA working with farmers throughout the wheatbelt, I have a bit of fondness for the great state.
It was getting concerning during July, when talking to my friends in WA. The crop seemed to be moving back with gusto, and the word disaster was being used by a few.
The rain gods seem to have delivered during the start of August, providing significant falls throughout most of the wheat belt. The Grain Industry Association of Western Australia (GIWA) released their monthly report this afternoon, and things are looking up.
The rain was desperately needed according to discussions which I had and also confirmed in the GIWA report. Benign rainfall for the next month or so will assure an average crop. The potential for above-average remains an opportunity.
The full report is available here
A couple of charts showing production since 2010 are displayed below for your perusal.