CNSW Market Update – 05/10/2018

Anthony Hall, Agfarm Regional Manager NSW & QLD

Finally, some good news on the rain front. The system that came through Thursday and Friday this week was very hit and miss with some areas only getting 4mm and others receiving up to 70mm. The heaver falls were through the central part of NSW with the tops being recorded at Nyngan, Warren and Dubbo. Obviously, this is too late for some winter crops, but the crops that had held in there will freshen up and at least guarantee seed.

The big opportunity from this rain will be sorghum! There has been plenty of activity on forage sorghum for stock feed supply with reports of some varieties running out. The Super Sweet Sudan (SSS) was a popular choice this year however only those who committed really early were able to secure supplies. We should see a lot of activity on the grain sorghum this week. With a failed winter crop, premium prices and some rain, growers will push the boundaries and sow something even if they are not sitting on a full profile.

Harvest is pushing south at a very fast rate. Areas north of Emerald have finished harvesting wheat and well into chick peas and should be wrapped up within the next two weeks. There’s not a lot of wheat up there but what little bit there is selling off the header and achieving $430-440/MT exfarm, with local consumers trying to get coverage from their local growers. Chick pea yields are varying between 0.2MT-0.5MT/acre. There are reports of some frosted areas around Cappella which caused some screening issues, but this was luckily a small area.

There hasn’t been a lot of movements in markets this week. Prior to the rain, both trade and consumers were looking to soften their buying ideas, however it was short lived when the rain event was not as wide spread as first expected. Wheat is still being bid into the Darling Downs at $475/MT with minimal activity while old crop barley is at $460/MT again with limited selling.

 

 

Prices as at 4th October

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

 

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