CNSW Market Update – 01/03/2019

Anthony Hall, Regional Manager NSW & QLD

Unfortunately, there has been no ground breaking rain to report on this week, but on a positive note, there is still time for a rain event to come through and turn the season around. Many people are still optimistic we will get the autumn break within the next two months, resulting in many growers beginning their sowing preparations so they don’t miss the opportunity, should any rain eventuate. Feeding stock is still an issue for a lot of producers and there are some around the table lands in particular who have been dry sowing oats in anticipation of rain, with the hope they will be able to provide some ground cover over the winter months.

Grain markets were quiet this week with a lot of consumers watching the skies and their stock on hand to try and avoid being long in an expensive market. There has been some increased wheat demand in the farmer to farmer trade as supplementary feeders try and secure some grain for the months leading into sowing. However, with the lack of firm demand from consumers the wheat market has taken a run south this week and it seems growers are reluctant to sell the market down. SFW1 delivered Downs was bid this week at $415/MT and offered $7/MT higher. SFW1 FOT in Newcastle was offered around $410-$415/MT which didn’t gain any interest.

As sorghum harvest draws to a close, it’s become apparent the later sown crops have had a disappointing finish, with some being so poor harvesting has been abandoned. Sorghum values followed all other markets this week with a softer tone. SOR1 delivered Downs was bid around $345-$350/MT. Barley delivered Downs was bid this week at $370/MT with offers coming in around $380/MT, a sharp fall compared to a couple of months ago when the same market was bid at low $400’s.

 

Prices as at 28th February

* View of current market pricing. Does not represent current Agfarm bids.

 

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