Striking At The Root

Western Australia: Crops Punished by Two Devastating Frosts in a Matter of Days

Crops in Western Australia were punished with yet another severe frost overnight Wednesday, following a devastating hit on the weekend at a critical time in development.

Prices for this coming January’s ASX East wheat contract reached new season highs of $442 a tonne after devastating frosts in Western Australia over the weekend.

The previous high for a January wheat contract was in 2011 when the January ’12 ASX East contract was $364.50 a tonne.

“Australian spot wheat prices ended high on the east coast on Tuesday, with reports of weekend frost in Western Australia impacting pricing,” Mr Gorey wrote in a Commonwealth Bank market report.

John Chapman, a farmer in Bruce Rock, tweeted that 50% of his wheat crop is “stuffed,” adding that this was the, “biggest frost I have seen in my short 15 year history.”

Extreme weather conditions are tightening the Australian grains market as we descend into the next Grand Solar Minimum.

This additional midweek frost will likely heap even more pressure on the markets, with reports coming in of canola and potatoes suffering too.

Stay tuned for updates.

GSM

The post Western Australia: Crops Punished by Two Devastating Frosts in a Matter of Days appeared first on Electroverse.

0
    0
    Your Cart
    Your cart is emptyReturn to Shop