CNSW Market Update – 29/03/2019

Anthony Hall, Regional Manager NSW & QLD

There has been a bit of sowing activity to the east of the Newell highway throughout NSW this week with mixed farming operations taking advantage of the moisture to get some oats and grazing wheat in. With soil temperatures still pretty high it jumped out of the ground pretty quickly. It will be an excellent start if the rain predicted on Friday and Saturday eventuates. It’s a little too early for the crops destined for grain to be sown yet so everyone is happy to sit back and watch the profile fill a little more before getting too excited.

Central QLD got under a bit of rain Wednesday night. Around Emerald, there was anywhere from 60-70mm and the falls got heavier further north. Dysart and Claremont received 100-150mm. Based on this, a big winter cropping season is expected up there, particularly as the smaller than expected summer cropping season has left a lot of fallow country. It looks as though they will kick off a little earlier than the traditional Anzac Day start to make the most of the moisture, most stating they will get planting within 10 days. There will be some yield increase in the late sorghum crops as they were just flowering when the rain fell. Recent reports are saying 2.5-3MT/ha crops will be pretty common.

 
 
 
 
There wasn’t too much activity in the markets this week. This looked to be a result of a lack of firm direction with tight stocks on hand right and also the forecast of rain looking promising. There was a $10/MT spread between the bid and offer for SFW1 delivered Darling Downs which finished the week on offer at $425/MT. Sorghum remained relatively unchanged for the week. SOR1 finished the week on offer delivered Downs $355/MT.

Prices as at 29th March

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

 

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