CNSW Market Update – 06/04/2018

Alistair Murphy, Account Manager CNSW

This week was seen some continued upside in local cash markets, up between $2-3/MT across the board. Strength in international markets and limited grower selling has been the main reason for cereals firming this over the last seven days.

Even with the recent upside in values we still haven’t seen a great deal of commitment from grower land as mid-range weather forecasts continue to remain unconvincing as we enter the April sowing window.

If the early sowing window continues to be squeezed due to lack of sowing rain, we expect early grazing crops and canola planting intentions start to switch out to wheat and barley. Although we still have some time up our sleeve and without sufficient moisture availability we still would expect some type of dry sowing to be trialled.

Chick pea values appear to have stabilised for now, with bids presently sitting at around the mid $500’s/MT range delivered packer Central for the majority of the past week. We aren’t really seeing too much in the way of grower selling on this front.

Even though selling is hard to come by there is enough liquidly in the northern parts of Port Kembla working its way up to the northern feed markets. These sales are keeping prompt demand satisfied for the short term, although there is the ever question over where the next lot of replacement stock can be purchased.

Victorian and southern parts of Port Kembla domestic markets are still paying enough to keep the grain in their backyard rather than heading north. Although if these homes do start to get some decent coverage, we will start to see this grain working its way up the East Coast once again.

We are hearing of some fairly staggering farm to farm barley values trading between growers, just for stock feed purposes. These are just for spot loads here and there, but at values well and truly above what the big end consumers are willing to pay at present.

 

Prices as at 6th April 2018

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