Market Morsel: WA on the rebound
Market Morsel
Throughout this season, the west has been struggling compared to the east. I spoke about this in recent weeks on an Ag Watchers podcast with Nathanial O’Hare (listen here). Whilst WA hasn’t had a significant volume of rainfall this growing season; it has seemingly fallen at all the right times.
The Grain Industry Association of WA (GIWA) released their December forecasts. As expected, there have been some major upward revisions.
- Wheat 8.9mmt (1mmt)
- Barley 4.2mmt (+640kmt)
- Canola 1.625mmt (+250kmt)
- Oats 585kmt (+10kmt)
- Lupins 570kmt (+70kmt)
This is a substantial increase and goes to show the improvements in water use efficiency in this country.
The new GIWA forecasts show a substantial change from the ABARES updates, which were released at the start of December.
