CNSW Market Update – 29/06/2018

Alistair Murphy, Agfarm Account Manager CNSW

This week’s weather change has brought some much needed rain in drought affected Northern NSW and QLD, although not to the extent that most were expecting.

Falls around Central NSW varied between 10 – 20 mm, which for those lucky enough to receive it will be enough to germinate some of the dry sown crops.

Coonamble through to Narrabri and across to Tamworth received smaller falls which won’t provide too much improvement in positivity, but Walgett and Brewarrina regions managed to get some good falls anywhere between 25mm up to 70mm.

Areas around Roma and Central Queensland also received some impressive falls in the range of 25-50mm. The inner Darling Downs received less with totals anywhere between 5 – 15mm.

Old crop and new crop coarse grain values saw immediate weakness creep in prior to the rain event occurring, as buyers and consumers opted to sit aside and wait to see what the weather would bring.

Now the rain has fallen, and the results are less than what was expected, markets once again firmed reflecting the season has by no means turned around.

Grower sentiment still remains subdued, although intentions towards sowing options differ between regions in Central NSW and Northern NSW/QLD.

Clients located in the Northern areas seem to be happy to leave some fallow and conserve moisture for Summer cropping opportunities, and should we see a good spring break we would expect a significant sorghum and cotton plant to occur. Whereas growers in Central NSW will be more inclined to sow winter acres late rather than holding off on big acres in the hope of a good summer cropping window to present itself.

It appears the expected rain from next week’s weather system has been eased off over the last few days, which would have been ideal to keep things ticking over. Fingers crossed we get some more follow up in the short term.

 

Prices as at 28th June 2018

 
 

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