VIC Market Update – 19/10/2018

James Ryssenbeek, Agfarm Regional Manager VIC

Rainfall continued into this week, however with little consistency. Deniliquin fared well again with 30mm (on top of last week’s 30mm). Crops closer to the Grampians also received 20mm as did areas around Nhill through to the SA border. Mildura also grabbed two un-forecasted 7mm showers which will benefit the late planted crops.

In the Wimmera, Brim celebrated its first 10mm single rain event for the year, which is extraordinary. They’ve had roughly 50% of their annual rainfall. The rain was welcome for beans, lentils and late sown standing crops. The following day’s wind helped dry the already cut crop. Interestingly, some of the early cut hay crops made export quality, a sign of good management given the conditions. Cereal harvest in this area is expected to commence in two to three weeks.

Recent rainfall events have impacted pricing. Old season cereals softened $5-10/MT depending on the site, however canola pricing remains strong – a direct correlation to the lack of canola this season. New season prices also came back more aggressively week on week ranging $25-35/MT but selling is weak as we approach harvest with yield and quality questions.

Pictured: Scott Burger and Paul Quinn driving through a great looking hay crop in Echuca.

 

 

Prices as at 18th October

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

 

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