CNSW Market Update – 21/11/2018

Anthony Hall, Agfarm Regional Manager NSW & QLD

There were some excellent rainfalls recorded in QLD over the weekend and Monday. The Darling downs received 200mm while south of there recorded as high as 300mm. There has been plenty of reports of flooding and crops under water, but no one is complaining considering how long overdue a big fall was. The timing was perfect for dryland sorghum and cotton and will ensure a crop. The falls were lighter further west with the likes of Roma receiving 35mm. Northern NSW also recorded around 35mm to 45mm.

To the markets, sorghum has softened this week around $10/MT on the back of the good rain. Values delivered Darling Downs settled the end of the week at $343/MT. Growers are starting to make forward sales with certainty around the crop and with fears the market may continue to fall. Wheat remained unchanged this week. A lot of delivered homes are still chasing grain and with the lack of grower selling its keeping values high. Delivered Darling Downs is currently trading at $443/MT. Barley has recovered a little this week, again due lack of grower engagement and positions needing to be filled. Delivered darling Downs closed the week at $410/MT.

Pictured is Brad Cady’s cotton crop near Gunnedah NSW.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Prices as at 20th December

 

 

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

 

Follow us on social media