VIC Market Update – 10/05/2019

James Ryssenbeek, Agfarm Regional Manager VIC

1.5 minute read

Just add some water and sowing has definitely kicked along. With around 15mm+ in the last week and few interruptions, growers are well into their programs ranging from 50-80% sown. Some canola planting has been cut back, but in my talks, most have stuck with their rotations despite the dry leadup.

North eastern VIC, and 100km around Melbourne picked up 3-9mm of rain in the last 24hrs. However, the main course is predicted to be tonight(Thursday)/tomorrow(Friday) which is forecast to add 5-25mm for most of the state. Last week there were also good falls in our catchments (nothing flowing to rivers yet) with 100mm in the Dartmouth area.

Rain continues to pull back markets. Old and new crop values have fallen sharply again. Wheat continues to lead the downturn off $30/MT week on week, barley ($13/MT down) and canola ($3/MT down) are stable by comparison. There is very little grower trade this week which is to be expected while sowing is in full swing. We are still fielding stockfeed sales.

Cotton picking has started in southern NSW. Yields are looking good with 12 bales per hectare not uncommon. There are already concerns about next year’s crop with lack of water supplies. Corn stubble hay is another new market for producers with prices of $120/bale being quoted.

Prices as at 9th May

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

 

 

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