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Globally, market headlines in December were mostly driven by recessionary fears, Covid lockdowns in China and ongoing violent Russian conflict towards Ukraine. Domestically, the RBA hiked the cash rate again, as inflation seemed to bite.
Higher than expected quality was realised for East Coast growers, while record crops were received in SA and WA. Growers battled ongoing flooding along most major river systems in NSW and VIC as the rain which fell during Spring moved across the states. As the weather cleared, and those lucky enough to have access to their fields were often surprised at the quality of their crops.
Growers within the AgriDigital network began to sell their warehoused grain as the higher than expected quality saw protein-feed spreads narrow.
Total tonnes cashed during Dec accounted for 60% of the AD Network total, up from <10% the previous month.
Grower deliveries into the AgriDigital network peaked with strong volumes seen across all sites;
- December receivals up 200% from Nov, taking harvest total to 2,318,488,86mt.
- 1.7MMT were received in Dec
