CNSW Market Update – 03/05/2019

Anthony Hall, Regional Manager NSW & QLD

2 minute read

Unfortunately, we didn’t see the rain needed to kick off the official start to winter cropping on ANZAC day. We did however have some great sunny holiday weather for the holiday period. Luckily this week has yielded some rain, at time of writing (Friday 3rd) the change had only just hit the central west of NSW and 4-6mm is in the gauge with more to follow this afternoon. The rain fallen so far has been much heavier in the southern part of NSW with recordings of 40-60mm over last two days. The further north in NSW the forecast is for 10-15mm. A fall of this amount throughout CNSW/NNSW will freshen up the crazing crops which is probably just in time as they were starting to struggle in the heat and dry. It won’t be enough to kick the main grain sowing into gear as we are starting from too low of a soil moisture profile and sowing on that amount of rain is risky.

The last couple of weeks has seen ploughing for weed control and ground preparation finish up. With minimal ground cover and two well below average years, the amount of country being worked up this year was a lot higher than the norm. There has been a lot of reports of the ground seeling over and not allowing water to penetrate.

There was little market activity over the Easter and ANZAC week and this week wasn’t much better. It’s all been about the forecasted rain and trying to best manage stocks on both the buy and sell side. Consumers are buying hand to mouth and trying to push the market down in hope the forecasted rain will create opportunity for new crop and prompt some old crop liquidation from the trade, as they hold most the stocks. The sell side is the same story. Growers and trade didn’t want to sell the market down if the rain didn’t eventuate. We’ll have to wait until next week to see how this one pans out.

Prices as at 3rd May

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

 

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