CNSW Market Update – 17/05/2019

Anthony Hall, Regional Manager NSW & QLD

1.5 minute read

The past week hasn’t brought any further planting rains for much of northern NSW or QLD cropping areas. The ideal planting window is fast running out so we may see eventual declines in northern east coast production. The next seven to 14 days are looking somewhat bleak for further rainfall chances to get planting either underway or consolidate what some have already received. As we head towards the weekend, there is a predicted change coming through and the forecast for the back end of next week is looking promising. It will be more than welcome.

With regards to markets, sorghum received some welcome news that China container demand was present earlier in the week which allowed the pricing to rally $15-20/MT in most locations through northern NSW and QLD. They continue to yo-yo a little up and down $5-10/MT in a day sometimes but this rally probably presents a good opportunity to enter the market with a percentage of unsold stock. Currently, delivered Darling Downs is priced in the mid $330’s/MT while Liverpool Plains is $360-370/MT delivered May-July.

Wheat and barley prices have moved sideways over the past week with Darling Downs markets for SFW1 around $380-385/MT July delivery and barley at around $10/MT under wheat values.

Pictured: Cereals in Barmedman NSW

Prices as at 16th May

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

 

Follow us on social media