CNSW Market Update – 10/05/2019

Anthony Hall, Regional Manager NSW & QLD

1.5 minute read

There were mixed results on the rain last week. As forecasted, it was heavier in the south of NSW where it was common to hear of falls between 50–60mm. On top of the last fall two weeks ago, this puts them in a pretty good position for the moment. Some areas to note that received very long overdue falls was the Liverpool Plains receiving 40–60mm, and Walgett and Mungindi recording between 20-35mm. There are some extremely disappointed farmers west of Dubbo with falls totalling 2–3mm on the back of a forecasted 40mm.

There was plenty of diesel being burnt this week in the areas that did get rain. The timing is not too bad as most will get everything sown within the ideal window. Obviously, it’s way too late for canola. Pricing signals should see a fair amount of wheat going in closely followed by barley. Chick peas will still be in the rotation, however a bumper plant is unlikely due to the current values.

Markets this week were a little softer as consumers sought comfort with the rain. SFW1 delivered Darling Downs was offered at $391/MT, with little buyer interest. SFW1 delivered Liverpool Plains was $388-390/MT, again with little interest. Barley was very similar and hard to find liquidity in the market, currently delivered Darling Downs is back down to $382-385/MT.

Pictured: It’s been a long time coming, but I finally got to blow the cob webs off the spray rig, which has been in the shed for seven months now.

Prices as at 9th May

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

 

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