CNSW Market Update – 26/10/2018

Anthony Hall, Agfarm Regional Manager NSW & QLD

Harvest is quickly moving south as the weather warms up with temperatures in the mid to late 30’s in NNSW and QLD this week. Headers are in full swing as far south as Moree, mainly stripping barley with wheat to follow soon. Driving through the region, it’s easy to see the massive variation in crop ripening. The later sown crops are still green and a couple of weeks away from harvest while the early sown ones which missed the finishing rains are the first to be harvested. There have been reports of some green seeds around Goondiwindi and Moree due to low lying areas in mellow holes still yet to dry down.

With a few warm sunny days this week and a little bit of time before the next change is coming through, growers are holding off planting summer crops to let the first round of weeds germinate and spray out. It’s expected the planters will be out early next week. Traveling through Moree, Gundi and up to Dalby this week to talk about Agfarm Accelerate summer funding opportunities, it is obvious there will be a big sorghum plant. There is also a reasonable number of farmers prepping to put in dry land cotton this season. Some have the moisture and have started planning and others are only one to two inches away from having the confidence to plant. The window is open through to early December so there is still a bit of time.

Central Queensland had some storms go through this week with falls of 25mm up to 80mm recorded. This was welcome, but not the good soaking rain required to guarantee a summer cropping program.

Markets have had a softer tone this week with new crop hitting the bin, some rain, and domestic consumers gaining more confidence in nearby coverage leaving the trade to hold their bid in the market. SFW1 Darling Downs was bid $440/MT with little on the offer side, and F1 was offered at $445/MT with little interest to pay up to these levels for Nov/Dec delivery.

 

Sorghum 40km north of Moree. There has been good germination and is powering along nicely since the last rain.

 

Prices as at 25th October

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

 

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