CNSW Market Update – 18/04/2019

Anthony Hall, Regional Manager NSW & QLD

It was another dry week right across NSW and QLD and there’s unfortunately little on the forecast. It’s now two weeks since the last change came through brining rain. For most areas in NSW it looks like the only activity come the Anzac day sowing trigger will be dry sowing. The temperature is back into the 30’s this weekend and the heat is taking its toll on any green pick we had. We’re hearing anyone who had sown oats is desperate for rain and if nothing comes within the next two weeks it will be dead. While the dry is not good for the winter cropping it is making for a smooth cotton pick. Picking started ramping up this week in the central NSW valleys. Reports are, the yield in general was down a little this year 12 to 14 bales as some ran short of water or couldn’t keep the water up due to pumping restrictions in the heat.

There is still plenty of farmer interest this week for supplementary livestock feed, this is creating a few premiums in the markets for those who have grain left to sell. It’s decision time though, should farmers sell livestock now, as if the season doesn’t turn it will be an expensive year feeding. But if it does break it will be a good time to have stock on hand as they will be hard to find.

It’s been a tough week on the markets front with the falls in CBOT filtering through to our domestic prices. SFW1 delivered downs was bid at $403/MT but very little on the sell side. New crop bid darling Downs traded this week between $362-369/MT. Barley closed out the week trading around the $385-388/MT mark, again very thin on the trade volumes. We have seen a little bit of sorghum trading this week. It seems growers are keen to liquidate their stock in the private storage system. Delivered Downs this week for Sorg1 was around the $348-352/MT mark which is very similar to last week.

Prices as at 18th April

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

 

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