Markets surged forward last week on the back of stronger US markets, with the Darling Downs delivered feed complex doing the most work to the upside in coarse grains.
We have seen some decent liquidity in Central West NSW, mainly feed wheat SFW1 parcels destined for the Liverpool Plains and Darling Downs markets.
Prior to last week’s move upwards, we had seen the premium destination market for SFW1 being delivered into the Liverpool Plains.
But now the Downs market has once again become the front runner in order to take a piece of the action.
Barley hasn’t seen as much liquidity recently even with the upside, which isn’t a surprise as barley is the tightest commodity this year.
The spot farm to farm trade is still ticking over at values well and truly above what the big end of town consumer is willing to pay.
Any growers who are still holding barley appear to be content to drip feed load by load. And who can blame them with opportunities to sell at anywhere between $300-320/MT onfarm depending location.
Chickpeas also had a solid move last week firming anywhere between $40-60/MT, depending on delivery location. Values peaked around the low $600’s/MT delivered packer Central West NSW, before settling at the end of the week just shy of the $600/MT mark.
Even with the recent upside, we have seen very little liquidity in the pulse markets as the volume quite simply isn’t out there this year.
Anyone who is still holding old crop, has much higher targets in mind and aren’t actively chasing sales with the continuation of the dry weather.
The mid-range weather forecast does have some rain predicted over the coming week, but at this stage it appears it will one be in the 10-15mm range.
We’ll take what we can get, but we really need a good three to four inches of soaking rain to get the profile back in order for sowing.