SNSW Market Update 16/11/2018

Matthew Noonan, Agfarm Account Manager SNSW

Most started harvesting again over the weekend post last week’s rain only to be promptly pulled up with more rain early this week. Western Riverina received around 5-10mm, the north east and north of Port Kembla zone reported around 5mm and along Murrumbidgee (Narrandera to Wagga) the storm seemed to be the most intense with 30-35mm’s. Weather permitting, most will be back up and running again over the coming days.

Wheat markets are yet to see any real indications of direction being up and down a few dollars in most locations over the past week. We’re starting to see a little more sell activity with values that range from $400-415/MT for ASW1 up to $416-435/MT for H2 throughout much of Port Kembla zone. ASW1 pricing is a bit tighter across the whole port zone with the Griffith Market zone pricing well from Western Riverina sites. We’ve also started to see growers from around the Murray River and north western VIC area looking at domestic markets in the Griffith Market zone while it is around $430-435/MT Jan + carry.

Barley at present seems to be suffering a demand issue. Most are used to prices being on par with ASW1/SFW1 wheat or at a premium. But with barley falling out of favour in the ration to some larger consumers in the Riverina and Central West it is trying to revert to a more historical spread of $10-20/MT for F1 barley under ASW1/SFW1 markets. Eastern Riverina and South West Slopes are pricing around $410-420/MT Jan + Carry delivered and most sites in the Port Kembla zone have dipped below $400/MT site level.

Canola is slightly lower by $3-5/MT as we start to see the headers rolling and the crushers gaining some supply. Riverina and South West Slopes crushers are pricing around $620-635/MT delivered for Nov/Dec. Canola price movements are hard to peg down. The feeling is as harvest winds south it will continue to come under pressure, but only time will tell.

 
 
 

Pictured: Wheat nearly ready to harvest north of Lockhart NSW

Prices as at 15th November

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

 

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