Agfarm Central NSW Market Update

The windy weather and lack of rain has again been the hot topic in central NSW right through to central QLD.

To add to the pain, this week’s forecast remains dry with numerous areas predicting temperatures to rise into the 30’s.

Reports from the central region last week have revealed crop damage due to the sub-zero temperatures we received a week and a half ago.

The frosts hit canola hard and right at the wrong time. Most crops had finished flowering and had set pods, which are now destroyed. In the cereals, there was varying degrees of stem frost with most stating it hit their more mature crops hardest.

Even more frustrating for those affected, is it will be some time before the full extent of the frost damage is known. Without rain in coming weeks, the earlier more mature crops will continue to lose yield potential.

For the later crops, it could mean a tough assessment of carrying through to grain or to put the livestock in.

On the markets front, understandably, grower selling activity has been little to none on both old and new season crops.

Any old season grain has become a hedge against new crop production failure, and the risk for reward on selling new crop is just not there. Even though new crop numbers lifted $10/MT last week, they are a far cry away from triggering any new crop sales.

All eyes will remain on the delivered markets for the coming months. It looks like the draw zone for feed grains into the Darling Downs, Liverpool Plains and Newcastle consumptive markets will include the central NSW area.

Harvest has kicked off in central QLD with barley and wheat yielding roughly 1MT/acre and chickpeas .7-.8MT/acre. Quality has been good with low protein ASW1 and APW1 wheat, and chick peas making Desi1 standards.