January AgriDigital Network Harvest Update

6 Feb
Our AgriDigital network saw a significant drop in the number of deliveries in January 2023, with a 53% reduction compared to the previous month. January's total tonnes transacted was over 600K mt across 17K deliveries, compared to over 1.73M mt across 48K deliveries in December 2022.

The busiest day of the month was on January 5th, as the official holiday season was over and growers pushed to finish off their harvest where weather enabled.

While domestic grain values have moved up and down , international drivers such as the United Stated winter wheat conditions and Ukrainian conflict, continue to provide support for domestic prices. 

The AgriDigital Finance team saw a general up-tick in demand for inventory finance throughout January, as growers began to sell down some of their grain our just-in-time finance helped grain buyers access capital to fund their purchases. 

Daily deliveries into the AgriDigital network in January
Source: AgrDigital Platform

January saw another month of tightening grade spreads between higher protein wheat relative to feed grades. The higher than expected levels of protein received during harvest has allowed sellers of lower grade wheat to benefit from a better than expected price/mt. The APW-ASW spread tightened from approx. -$32/mt to -$20/mt over the course of the month throughout most port zones.

APW and ASW average east coast prices in AgriDigital Platform
Source: AgriDigital Platform

Due to the wet season and a delayed start to harvest, Victorian and South Australian zones were the largest for the month, with Melbourne taking more than double the next highest zone (Adelaide) and Geelong rounding out the three highest received tonnes for the month.

Delivered tonnes into AgriDigital Platform by port zones
Source: AgriDigital Platform

No items found.