SNSW Market Update 15/02/2019

Anthony Hall, Agfarm Regional Manager NSW & QLD

The weather this week hasn’t yielded any falls large enough to get excited about sowing early. There were plenty of storms around with some recording 10-15mm and others recording next to nothing. The cool change which came through on Tuesday behind yet another dust storm was a welcomed change, but we’re set to move back into the 30oC next week. Driving around it is evident some weeds have been hard to control in fallow spray as there is plenty of country that has been worked up. Another issue we’re hearing is a lot of paddocks are being wind swept creating a lot of runoff in big storms. The only way to fix this is to open the soil up with offsets to increase soil penetration.

Sowing is starting to tickle the tongue of conversation, and it looks like the canola plant will be back again this year unless we get a major rain event in March. Looking at the forecast it may be a late break which will mean a big year for wheat and barley and with even an average crop at the forward prices we are seeing now, it may be the year to make a bit of money.

To markets, barley is still seeing a small amount of grower to grower trading for livestock feed which is getting a premium to the major consumer markets. Consumers are paying $380/MT for F1 on the southwest slopes and $370-$375/MT on the Vic boarder. In general, the market tone is a little softer.

Buyer demand for wheat is very slow at the moment. Griffith market zone settled this week around $420-425/MT for prompt delivery. In general, growers are targeting $10/MT higher before they off load any more stocks.

Canola after the jump last week has corrected its self coming off $3-5/MT.

 

Prices as at 15th February

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

 

Follow us on social media