VIC Market Update – 13/12/2018

James Ryssenbeek, Agfarm Regional Manager VIC

Rain and showers this week continue to stretch out harvest. There have been some very big falls, most notably 130mm in Birchip! Another 53mm for Warracknabeal on almost the same amount a fortnight ago. These two areas are fairly well through harvest if not all done, and I haven’t heard of much damage. Areas still harvesting closer to Stawell and Bacchus Marsh haven’t had much of a run on wheat yet with high moisture (pre rain!) continuing to cause delays.

This week I spent time with Rodwells Deniliquin. Growers have had a very ordinary season around Deniliquin this year. A lot of dryland crops were fed to livestock months ago. The irrigated crops appear to be ok. High water costs and lack of allocation meant many irrigated crops weren’t watered frequently enough resulting in only average yields.

Markets continue to remain relatively quiet in Victoria. There has been some cash selling this week with wheat and barley prices gaining some ground. Smaller consumptive homes such as piggeries, feedlots and some feed millers continue to offer strong prices. There is also growing interest in longer term marketing options like Advantage, particularly for barley where there is a perceived upside based on lack of tonnage.

Week on week there has been slight gains for old and new season crop. 2017/18 canola is up $15/MT to $616/MT from last week. New season APW is also up $12/MT to $435/MT Melbourne track. 2018/19 barley has slipped a little to $371/MT down $7/MT.

Pictured below is a well-established young cotton crop near Deniliquin which is about to enjoy a massive rain front! Comment from my guide while driving around the crop “better step on it or we may be stuck here for a while”.

 

Prices as at 13th December

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

 
 
 
 

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