CNSW Market Update – 31/05/2019

Anthony Hall, Regional Manager NSW & QLD

1.5 minute read

The most appropriate way to describe current crop conditions through much of the north is patchy. Storms over the last few months have created a few areas where crops are out of the ground and looking good, while other areas require more soil moisture to get going. Over the coming weeks we could still lose acres with some discussion around conserving winter moisture for spring/summer crops instead of taking a gamble on winter cereals. Central QLD, Eastern Downs and parts of NE NSW like the Liverpool plains are looking good but you don’t have to go too far at times to see crops lagging behind.

Local markets continue to strengthen, the obvious driver is the continued dry conditions and lack luste forecast through much of Northern NSW. Offshore factors such as delayed US corn plantings have pushed up CBOT futures and in turn WA and SA export markets.

Given the current flow of grain from these regions into our major feed and consumer homes in the North of NSW & Southern QLD, week on week delivered consumer prices we are up $5-10/MT on wheat and barley. Delivered Darling Downs SFW1 July is bid around $415-420/MT at present with barley only $5-10 under wheat and Sorghum around $30-50/MT under. New Crop markets are also rising due to the same reasons explained above, year on year we look like producing more cereals on the East Coast and will likely remain the best paying market for WA and SA grain.

Pictured: Good looking irrigated wheat crop near Gunnedah, NSW.

Prices as at 31st May

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

 

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