CNSW Market Update – 22/03/2019

Anthony Hall, Regional Manager NSW & QLD

What a difference a week makes. There is still a feeling of scepticism regarding the weather, but on the back of good rainfall in the very north east of NSW moral seems to have improved. The Moree area received around 30mm’s. The numbers increase moving into the inner Darling Downs in QLD to around 100-200mm’s dependent on which cloud you were under. Western areas of both QLD and NSW still missed out while further south, the Liverpool Plains and much of the central west have had nothing. More is still needed for those who received falls, but it is a start.

On the crop front, sorghum through NSW is basically completed and in the bin with some late crops through QLD possibly benefiting from these rains. For winter crops, it’s still too early to tell. For those who received a drink they’re still in need of good follow up rains, and for those who didn’t, they’re in need of any rain.

As far as pricing goes, rain forecasts have caused both wheat and barley pricing to drop $3-5/MT into the Darling Downs, while sorghum continues to yo-yo a little, but is down $5-8/MT. Widespread rain will likely push values lower for the short term.

Prices as at 22nd March

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

 

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