IT’S FAIR to say that AgFarm account manager Fabian Devereux is passionate about the grains industry.
By day, he works with grain brokering and marketing business AgFarm in Bendigo, but he does not switch off once he has clocked off.
Instead, Mr Devereux has recently released his first foray into the world of app development, an app called OZbasisCalc, that allows growers to check Australian basis, real time, at the click of a button.
The basis is the difference between Australian prices and international futures, and is a critical factor in determining marketing strategies for Australian growers.
For instance, at present a strong domestic basis, created by solid demand from the lot feeding sector in northern NSW and southern Queensland means NSW and Queensland cereal prices are well above international parity. This basis is less strong in other states, but is still well above neutral territory.
Mr Devereux said the app was a natural fit between his day job and his hobby.
“I’ve wanted to enter the app market as a hobby for some time, and I’ve finally got my first idea off the ground after a few attempts," he said.
“This app is closely related to my day job as account manager for AgFarm who are grain brokers and have managed marketing programs Agfarm Advantage.
“OZbasisCalc is a tool that tells the grower what our basis is in the market on wheat on any given day in US cents a Bushel or US dollars per tonne.
“All the growers need to do is enter the APW1 port number, Chicago bushel price and lastly the foreign exchange rate in AUD vs USD terms .
“Within the app there is a search link for currency and also Chicago price.”
Mr Devereux said the simple app gave growers access to a tried and true method used by the trade for many years.
“This is a formula that grain traders and marketers have been using for a long time, in Excel spread sheets, but now growers can access this information on the run in just a minute, which could help with their marketing decisions," he said.
He said he had been toying with the idea for a couple of years, before taking around six months to get it developed.
“The development process was actually a bit quicker than I thought, the tech guys were fantastic to work with.”
OZbasisCalc is available on Apple app store and also Google play for Android.