SNSW Market Update 05/10/2018

Matthew Noonan, Agfarm Account Manager SNSW

Not a lot has changed over the last week in Southern NSW. We have received some rainfall over the past few days ranging from 0mm to 10mm across the region. An average month for October rainfalls and temperatures should secure seed return in some scenarios and in others give around 1-2 bags/acre above current expectations.

The old crop wheat market continues to remain firm with Griffith market zone bid around $450-455/MT delivered for most of the week while Liverpool Plains increased to around the $470/MT levels. New crop levels have softened slightly in the past week to around $485-490/MT Port Kembla track which is around $5/MT off last week’s values. It looks as though washouts may have slowed for the time being, however it’s suspected there are still a few out there sitting on the fence to see how October plays out.

Without sounding like a broken record, demand and supply of barley remains thinly traded but prices remain either at premium to wheat or evens. In most locations south to north you can achieve around a $430-460/MT exfarm but parcel sizes on the demand side are small for now. New crop remains steady at around $450-455/MT Port Kembla track.

Canola hay is the talk of the town at present with plenty of paddocks being cut for hay or have livestock running through them. There are some ‘ok’ looking crops around, but yields will be below average for the most part. Prices this week steadied from recent week’s increases and remain around $553-557/MT Port Kembla track on old crop and $660-665/MT Port Kembla track on new crop. So as per last few weeks, the spread is starting to close up and it is old crop creeping higher towards new crop levels.

 
 

Pictured: Irrigated faba bean crop west of Wagga Wagga

 

Prices as at 4th October

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

 

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