IN 1995 Brett Stevenson exited the financial markets after 12 years, with the view of bringing the skills he had learnt to the agricultural industry.
The Wool Reserve Price Scheme was disbanded in 1991 and the domestic grain market deregulated in 1989.
Debate about deregulating the National Wheat Single Desk followed.
So, Mr Stevenson and the Market Check team organised workshops for grain growers explaining how futures and options could be used to manage risk, including using the concept of basis as a low-risk method of marketing grain.
The workshops were subsidised by FarmBis and organised through various intermediaries in the Eastern States and farm management companies in Western Australia.
There were eight groups in WA - Geraldton, Yuna, Mingenew, York, Dowerin, Narrogin, Williams and Kukerin.
The groups met three times a year for workshops and discussion, while Market Check also provided ongoing updates on what the markets, AWB and domestic merchants were doing.
This continued until 2002 when drought reduced attendances; however, the killer blow was the Federal government pulling the funding plug on FarmBis subsidies.
A lot has changed in the 16 years since the closure of the WA groups.
Since deregulation in 2008, global correlations in grain prices are now proven and well understood, the AWB is now owned by Cargill and no longer offering their national pool, export destinations for Australian grain have changed and we are now competing in a truly global grain market.
There has also been a dramatic change in the domestic structure with domestic grain demand surging above 10 million tonnes and competition from exporters reducing through consolidation or participants exiting the market.
Throughout this, Market Check and its grower clients have not only survived but flourished, continually growing despite three record droughts.
Today, Market Check is a specialist grain marketing adviser working exclusively for Australian growers, empowering them through its innovative approach to grain marketing and full-service execution services.
Growth and strong returns from their recommended strategies across South Australia and the Eastern States has naturally led the independent grain marketing business to recommence in WA in 2019.
Market Check founder and current managing director Mr Stevenson said, "our presence in WA this time will be vastly different to 2002".
"Rather than working on a FIFO basis we will have a full-time office based in Perth.
"Our integrated, full-service grain marketing business will be spearheaded by WA local, Ben Gliddon."
Mr Gliddon, who hails from Bunbury, has more than 10 years of domestic and international grain marketing experience.
He began his career with Plum Grove before moving to Singapore for seven years with South-East Asian flour milling company, Interflour, managing price risk and accumulating wheat for their mills.
Mr Gliddon was drawn to Market Check on the back of its strong grower focus and unique approach to grain marketing, incorporating derivatives year-round.
"His experience will be invaluable to Market Check's existing strategy team and WA growers that we work with," Mr Stevenson said.
Membership is the heart of the business and has existed since Market Check started.
The annual membership subscription fee gives growers access to exclusive grain marketing insights, price updates and strategies tailored for the WA market.
The team provides marketing education, advice, market insights, daily price updates and execution through an allocated adviser and online grower portal, MyMarketCheck.
The strategies can be executed through Market Check's Grain Agency service, into the cash markets or actively-managed via their market leading Managed Programs.
