Markets were closed for Labour Day Holiday in the US & Canada last night. Prices above are Friday’s close.
For anyone interested in selling new crop sorghum, today these prices are $276/mt delivered Downs. Delivered Newcastle for 2014/2015 crop is $277/mt.
Mungbean values for summer crop remain strong and we have freight rebates available for growers to take their beans to Dalby. These contracts are hectare contracts, with a zero minimum tonnage requirement.
New crop sellers are starting to emerge and we have seen wheat, barley and chickpea enquiry pick-up, as well as sorghum. New crop wheat today is around a $314/mt delivered Downs. This would equate to a $275-280XF Moree. For anyone looking at contracting a multigrade contract into the system, we will crunch some numbers with you as this season it makes sense to store grain on-farm and utilise our strong basis in the domestic markets.
F1 Barley XF Moree region for new crop is around $245-250XF. A track barley contract today is priced at $260/mt Newcastle, less $48/mt Moree freight, less $15/mt freight from farm to site = $197/mt XF equivalent. It’s easy to see why growers are keeping as much grain on farm and selling into domestic homes.
We have continued buying demand for old crop chickpeas delivered Narrabri, and ex-farm to move into Brisbane. We are also interested in chickpeas in the system. For anyone with old crop still to price, please contact us.
Next Tuesday NSW Partners in Grain are holding meetings in Tottenham & Narromine. AgVantage will be present at these meetings. RSVP’s are still open and if you would like to attend, please give us a call and we will give you the details to RSVP. We are looking forward to meeting some of you at these workshops.