Central NSW Market Update – 15/12/2017

Anthony Hall, Agfarm Account Manager CNSW

Those with crop still to harvest were back on the headers this week. The majority of wheat has been completed, with just clean-up jobs and slow yielding paddocks to go. Growers have made a start on chick peas after the later-planted crop took longer to come in, meaning most left spraying to the last minute to try and maximise yields. Unfortunately, there have been reports of early ripened seeds drying down too much and becoming brittle and splitting or shelling in the paddock. Yield reports for the later chick pea crops have been ranging from 0.7-1MT per hectare. With a good run of hot and dry conditions ahead, most growers should be finished harvesting by next week.

Again this week we have seen very little liquidity for the Newcastle port zone wheat market as most seemed content to hold onto whatever left-over grain they have in the hopes of a market correction come the new year. Adding to this; the full extent of the crop down grades are yet to be established. Therefore, many are questioning if milling wheat will rally into the new year based on the unknown quantity of feed wheat. Values this week are off a little with Newcastle track values at $325-330/MT for APH2, $310-315/MT for H2, $305-310/MT for APW1 and $290-295/MT for ASW1. Exfarm wheat continues to remain tightly held, any movements on this front won’t be expected until mid-February.

Barley has come off slightly again this week and there has been very little selling interest. Buyers who want ownership of parcels remain few and far between. Exfarm trades for F1 have been around $250-255/MT with most selling targets roughly $10-15/MT higher.

Chick pea values were up a little this week, trading in the high $600’s/MT. There have been a few reports of DESI2’s delivered into the packers with a defective between 8%-10% and mainly made of cracked peas or greed seeds.

 

Prices as at Friday 8th December 2017

CNSW Pricing Table 20171215