CNSW Market Update – 11/10/2018

Anthony Hall, Agfarm Regional Manager NSW & QLD

The rains continue to bring new hope for a summer cropping opportunity, with heavier falls in Northern NSW and the Downs region bringing us closer to a reasonably big sorghum plant. It’s good planting rain, however with a lot of areas going in on poor subsoil moisture, we’re going to need follow up rain to achieve a 2MMT crop. The falls will take a bit of pressure off the irrigated cotton farmers who were looking to pre-water giving them more water to use in crop. From a dry land cotton perspective, we are still three or four inches away from planting. The recent rains may have saved a few crops from grazing, however they’re still looking at seed recovery, which will take the pressure off next year’s plant, as seed will be very expensive.

Sorghum values have come off a couple of dollars however in light of the lack of feed grains and the poor winter crop it’s hard to see sharp falls even in a big plant. From a consumer’s point of view, sorghum at these values is still a good buy considering it is $70/MT under wheat. Wheat and barley remain unchanged on values this week with buyer demand and lack of sellers keeping the market well supported.

On the harvest front, Central QLD has come to a halt with the rain, and Southern QLD should start one to two weeks after the rain stops.

 

 

Prices as at 11th October

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

 

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