CNSW Market Update – 05/04/2019

Anthony Hall, Regional Manager NSW & QLD

Some growers were extremely happy this week on the back of Friday night’s change. Some good falls to note include Coonamble 70-100mm, Tooraweenah 100mm, Mendooran 80mm, Coona 70mm, Narrabri 35mm, Walgett 25mm and Moree 15mm which is excellent news. Unfortunately, it was a lot patchier than initially thought. Even in the areas large falls were recorded, it varied dramatically. The balance of the central west received only 3-5mm which is very disappointing and leaves many in no-mans-land for a little longer. Ironically, at the moment it’s too wet to dry sow, but not wet enough to take the risk of getting in early with some wheat or barley.

Moving into QLD through the Inner Downs and western Downs there was in general one inch or more, recorded at Dalby 30-35mm, Roma 30mm and Tara 35mm. This is a fantastic addition to the falls received earlier in March, the profile continues to build ahead of the ANZAC day kick off for sowing

There is still plenty of oats going in this week. Any farmer who received more than 25mm of rain in the last seven days is flat out sowing for livestock feed or counting their blessings that they sowed in front of the rain. Anything sown prior is already up and growing vigorously with warm days and moisture. The grain growing regions are waiting until later in the month to start sowing but are busy on the spray rigs this week. It looks as though most are having one last fallow spray before they get into the pre-emergent sprays. Canola production is going to be well down this year as the rains just came too late, so we’re expecting a big sow of wheat and barley.

The good news of rain in northern NSW and southern QLD has filtered through to the grain markets this week. The tone was generally softer with buyers sitting back as confidence builds for next season’s crop. On the offer side, SFW1 delivered Downs ended the week at around $420-422/MT. New crop delivered Downs Jan 2020 was offered at $354/MT without any buyer interest. Barley was on offer into the Downs at $384/MT with the bid around $10-12/MT behind. Sorghum closed out the week on offer at $350/MT delivered Downs.

Prices as at 4th April

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

 

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