CNSW Market Update – 27/07/2018

Alistair Murphy, Agfarm Account Manager CNSW

Another week has passed with no rain fall recorded in Northern NSW, and with the end of July upon us, it has now become glaringly obvious that much of the Northern NSW crop will be written off this season.

As a result, all eyes are now focused on Port Kembla, Victoria, South Australia and Western Australia, in the hope that exportable surpluses in these areas will help supplement the massive Northern NSW and Southern Queensland consumption markets.

Unsurprisingly, values firmed considerably across most local grain and oilseed markets late in the week, fuelled by strength in international markets and heightened concerns over our winter and summer crop prospects.

Given that we are well into the second half on the year with no substantial rainfall being received in July, growers have resorted to spraying out poorly germinated dry sown crops, with their focus turning toward opportunistic summer cropping, should we receive a decent spring break. As the majority of moisture profiles out there are in pretty ordinary condition, a ‘decent break’ would mean a good 5-6 inches prior to the summer sowing window opening to keep things on track. In the event that the perfect spring rain was received, we would expect a significant amount of acres to be put in, with Dryland Cotton, Sorghum and Corn be the most favoured options.

 

Prices as at 26th July

 

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