CNSW Market Update – 23/11/2018

Anthony Hall, Agfarm Regional Manager NSW & QLD

The weather this week saw sorghum and cotton crops get another drink. The majority of rain fell through the northern part of NSW with totals ranging from 15mm to 50mm. Into QLD it was the south eastern areas that received the most with reports from 5mm up to 25mm. Most of these falls occurred on Wednesday night and Thursday morning putting a halt to harvest for the next four days. Fingers crossed this doesn’t affect quality.

This week I drove from Dubbo to Tamworth then Moree and finished the week on the Downs. Dubbo to Dunedoo looked ok, there was a green pick which will keep livestock feeding until the New Year. Harvest looked to be complete through the area which isn’t surprising given there was little crop there to begin with. Unfortunately, from Coolah through to 50km west of Tamworth looked terrible. There was no green pick for stock and without at least four inches of rain there will be no summer cropping opportunities either. Tamworth, Gunnedah and Narrabri areas have had rain and some are contemplating planting summer crops, however will do so with undesirable moisture content. There was a lot of sorghum from Moree through to Millmerran. The earlier plant is coming out in head and should be ready for harvest late January early February (see picture below). The later planted sorghum is only two to four inches high (see pictured below). There is still a little bit of wheat and barley to come off in the Downs area. Some of the later crops have regrowth from recent rains and will need to be sprayed out once all grain potential has been reached.

The softer tone in the markets altered throughout Tuesday/Wednesday. The sharp fall saw some grower panic selling, however it quickly got to a point where growers were prepared to hold onto grain until there was a correction in the market. This happened on Wednesday with around a $10-15/MT increase in values.

 

Pictured: Sorghum in the Pittworth area. 95% of the crops look like the top photo while the 5% of crops planted earlier look like the bottom photo.

 

Prices as at 22nd Novebemer

 

 

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

 

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