VIC Market Update – 21/06/2019

James Ryssenbeek, Agfarm Regional Manager VIC

2 minute read

The weather was cooler this week and up to 25mm fell along the coast, but generally less than 10mm in most of Wimmera/Mallee and central cropping areas. I was on the NSW/Vic boarder again this week which was drier than you might think. You can see where storms have passed through, some areas look good, but more rain is required. Those with water will start irrigating soon, which is unfortunately a lot earlier than was hoped or is done historically. It is likely stock feed will be required for many along the border west of Deniliquin for some time until there is rain and warmth.

We’ve received more calls this week for grain marketing, again mostly driven by end of financial year decisions. Most callers are cleaning up the last of their onfarm or warehoused stocks. Not as many sales as calls however, with most sellers looking for around $5/MT over the bid. One crop that Victoria still has in style is lentils. The market is waiting for the $5-600/MT mark to get that moving.

Grain markets both old and new are up slightly, but trade has been thin. There hasn’t been much forward commitment yet although areas around Brim, Warracknabeal and Donald are looking very good at the moment with great in crop rainfall and subsoil moisture. The general consensus is consumers are saying they have ok coverage for now so there is little activity there. However, with some large consumers in NSW and almost no time left for new winter crop plantings that could change.

Cotton picking is basically a wrap now in Vic/southern NSW. Yields have been disappointing at 8-10bales, coupled with high costs this year driven by water and strong falls in markets over the last three months. It’s a tough job to make it work in that space today.

Pictured: Crops looking good in Barnadown VIC

 

Prices as at 21st June

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

 

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