Recently Tom Wake from the Geraldton GBA office was asked to do an interview with Vin Dawes on Rural Focus. The below interview details Tom’s history in the grain industry, the service GBA offers and contact details for the Geraldton GBA office.
If you missed the interview from Monday 2/11/15 feel free to have a listen as to what was discussed.
Soybean November 15 CBOT futures were down 6.6USc/bu for the week, from 905.2USc/bu to settle at 898.60USc/bu.
ICE Canola however made a CA$2.9 gain for the week, and finished the week at CA$474.5/t
Australian Non GM canola continues to find support at these levels with reports indicating the strongest interest in Aussie canola is coming from the EU. The reason being is the smaller crop, with the EU and Ukraine production falling 3.3 million ton this year. It is estimated their total production for this season to be at 23 million ton. The offshore market has also risen as EU growers are reluctant to sell this season, hence this is slowly pushing values higher as the buyers try to entice the grower to sell, making imported canola more competitive.
Drier conditions in Brazil have slowed soybean seeding but over 80 million acres are forecasted to be planted, putting 2015/16 production over 100 million tonnes.
Canola followed the offshore market and made a $5 gain across all port zones.
To read the full report please click the link below.
Weekly Report 15_10_26
CBOT Dec 15 futures finished the week at 502.4.4 Usc/bu. Down 9 USc/bu week on week.
Wheat ended the week lower to unchanged, the market has been weighing in El Nino reports, the North American harvest progression and dryness around the dry conditions in the Black Sea and the US and what it may do to next year’s crop. However, rain is forecast for the dry US winter wheat areas. Reports that Ukrainian soil moisture in the winter wheat areas now 20% below average, following a very dry August (which may negatively impact yield of the winter crops).
Egypt purchased 240,000 tons of wheat in a tender on Thursday. They bought 180,000 tons of Russian at an average price of and 60,000 tons of Romanian at an average price of almost $212 USD/t – the highest price
Egypt has paid since July. France was unable to compete in this tender again, as freight keeps French wheat just out of the mix. As of the 9th October only 3% of Egypt’s wheat purchases is Russian. Which is disappointing for them as the France’s farm ministry has just raised its estimate of soft wheat production from 40.8 million to a new record of 41 million tons, almost 10% higher than last year.
Strategie Grains have increased their estimate of the EU soft wheat crop by 2 million mt to a record 149.5 million mt.
There is some talk that Russia’s wheat export taxes might push more farmers away from planting wheat, and instead switch over to corn or barley. This would likely be a welcome scenario to the rest of the world, given the record supply of wheat available.
India are considering raising their wheat import tax from 10% to 25% in order to curb cheaper EU/Australian wheat from hitting their domestic stocks which already remain so high.
US winter wheat now 64% planted vs. 49% last week. Inform reduced US 2016 winter wheat plantings to at 39.3 million acres, down from its previous forecast of 39.7 million.
Ukraine harvest now reported to be 88% complete with 49.6 million mt of all grain harvested.
Local pricing has fallen by $4 across all ports week on week.
To read the complete article please click below.
Weekly Report 15_10_26
MEDIA RELEASE 
19 October 2015
New GBA office and grain broker for Geraldton
Leading independent grain brokering business Grain Brokers Australia (GBA) has further expanded its presence in the WA grain belt with the opening of its second regional office in Geraldton.
The new office in Foreshore Drive opened this week, and follows the opening of GBA’s office in Albany in July.
The office will be operated by recently appointed GBA grain broker Tom Wake, who has significant grain broking and marketing experience in the Geraldton region.
GBA provides grain growers with a full brokering and advisory service, to assist them in maximising returns from their grain sales. This includes price discovery, grain brokering and sales, domestic grain marketing, contract execution and harvest administration.
The Geraldton office will provide grain growers in the region with greater access to international and domestic grain selling opportunities through the Geraldton and Kwinana port zones.
GBA General Manager, Jeff Winspear, said the new developments continued the steady growth for GBA’s team and its service offering.
“We are focussed on the WA grain industry, and we are very pleased to have Tom join the team and to be expanding our presence in the WA grain region. Tom is already well known to many farmers across the region, and brings considerable experience in the grain industry.”
“GBA has a number of clients across this area, and we are now receiving more interest in our broking and advisory services. With new offices in Albany and now Geraldton, we are able to provide more comprehensive and tailored service to our clients.”
According to Tom, growers were really looking to leverage the increasing number of marketing opportunities available, and ultimately, maximise the return from their grain harvest.
“I am looking forward to working with both existing and new clients to help them identify and capitalise on these opportunities.”
“If growers are in Geraldton, we encourage them to stop into the office and say g’day and discuss their grain marketing options.”
Tom Wake
Hailing from the land Tom has always had great empathy for the agricultural industry. Tom spent almost seven years with Emerald Grain in various roles. During this period he moved to South Australia to join a grower driven joint venture, most recently, was the Geraldton regional manager. Tom has also held a number of industry roles in WA and nationally, including being a representative on the GIWA wheat council, and recently becoming a director of the Agribusiness Association of Australia. Tom holds a commerce degree from the University of Western Australia and a Diploma of Financial Planning
Geraldton office details:
21b, 285 Foreshore Drive
Geraldton, WA 6530
M: 0428 658 273
tom@gba-wp.testing.cirrenalabs.com.au
For more information, please contact GBA General Manager, Jeffrey Winspear, on 0417 091 489.
Image supplied: GBA broker Tom Wake in front of the new Geraldton office in Foreshore Drive.
About GBA
GBA is an independent grain brokering and marketing service focussed on WA grain growers. Since its inception in 2007, GBA’s mission has been to provide farmers with a reliable service that ensures they have access to the tools, information and support necessary to make sound grain marketing decisions. GBA has built a proven service that has evolved alongside the markets and technology, culminating in a comprehensive brokerage offering that is now used by farmers Australia- wide. Is service offering includes price discovery, grain sales and broking, domestic market opportunities, contract execution and harvest administration. For more information, visit www.grainbrokers.com.au
2015 CBOT corn futures were up slightly for the week, from 388.75.6c/bu to 391.2, a rise of 2.75c/bu.
The USDA report was considered bearish against trade expectations as yield and production were a bit higher than expected. The USDA report was expected to show lower yields and harvested area in the US. However the figures were slightly up from the previous month.US corn yield came in at 168 bu/acre, up from 167.5 bu/acre in September and above the average trade estimate of 166.4 bu/acre.
World ending stocks came in at 187.83 million tonnes from trade expectations for 188.7 million. Last month’s estimate was 189.69 million and last year’s (2014/15) was 196.03 million tonnes.
US Corn harvest gained momentum this week, pushing to 27% harvested, this is still 5% below average for this time of year. Local pricing has remained relatively unchanged for the week.
To read the full report click the link below.
Weekly Report 15_10_09
CBOT Dec 15 futures finished the week at 518.25 USc/bu. A 21.05 USc/bu rise week on week.
This week we got the USDA 1st September grain stocks report, which was viewed as slightly bullish for grain prices, with the numbers coming in below expectations. US wheat production was lowered by 2.31Mt to 55.8Mt. The trade had been expecting a figure closer to 57.9Mt.
Offshore wheat futures pushed higher this week as dry weather through the Black Sea region continues to make headlines. With more dry weather forecasted, already we are seeing disruption to winter wheat sowings. Rains is needed to help winter-sown wheat germinate before going dormant over the winter months. Ukraine and Russia, have seen less than half the normal amount of rain since early August.
The dry conditions in Australia is also making headlines globally at the moment with a lack of spring rain raising concerns over yield and quality prospects in the final stage of production. Thus analysts are calling for a downgrade on the AU wheat crop, with as much as 3Mt being lost to dry conditions. NAB is suggesting 2.4Mt could come off, the 25.3Mt ABARES forecast.
The Russian government has proposed to cut its wheat export tax from 1st October 2015 and exempt durum wheat from the tax. The proposals include increasing the deduction from 5,500 to 6,500 rubles. With total grain exports from 1 July – 18 Sept down 23% yearon-year, the reduction on taxation is expected to encourage wheat exports, which are behind last year’s pace.
To read the complete report please click below.
Weekly Report 15_10_02
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