VIC Market Update – 18/01/2019

James Ryssenbeek, Agfarm Regional Manager VIC

Beaches, bankers and sheep replace headers in Vic as harvest is all but completed. There are also a lot of trucks moving as consumptive markets call on grain contracts.

Markets have been quiet this week. Grain pool operators are preparing to close their main pools but expect to see secondary opportunities open soon. Although physical sales have been relatively quiet, there has been a good level of enquiry about exfarm and delivered contracts with opportunities for high $300/MT to low $400/MT on offer for wheat and barley throughout Vic.

The heat stopped most spraying this week. Summer croppers are also finding the hot spell challenging as it tests capacity of equipment and water allocations. However, one corn grower said in ten days his corn has grown a meter! Water brokers are starting to do business now for 2019/20 with irrigators taking some early positions where they can. 2019/20 fertiliser enquiries and orders have also commenced. Prices have been stable recently helped by soft $AUD and good supply.

Grain prices softened this week across all grades. One key driver is the consumptive markets which are likely ok at the moment. That said, high prices will have tested how much stock has been purchased. So, if grain stocks in mills are tight, keep an eye out for opportunities if you have grain to market.


Prices as at 17th January

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


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