VIC Market Update – 01/02/2019

James Ryssenbeek, Agfarm Regional Manager VIC

Continued heat, storms and schools back!

Wednesday brought some brief respite from the continued heat with hail and rainfall scattered all over Victoria. There were some meaningful falls in the Goulburn Valley and patchy rains through the Wimmera/Mallee. Elmore received 15mm, Merchison 15mm and Donald 12mm.

Markets remain quiet in the main. Victoria achieved a milestone recently, being Australia’s cheapest grain market. Particularly barley which is now below WA import prices. Consumers have started buying forward to cover the near months and this is creating opportunities for would be sellers.

Softening grain prices have resulted in deliveries to pooling type products as growers hedge their grain onfarm with longer term marketed grain.

Prices as at 31st January

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

 

 

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