Fact of the Day – Our most successful Commonwealth Games was in 2006 (Melbourne), at which the athletes won 221 medals (84 gold, 69 silver and 68 bronze). At the last Games in Glasgow, we won 137 medals (49 gold, 42 silver and 46 bronze). As the host nation, the 2018 team will be eager to break their 2006 record with already a whopping 52 gold’s on day 7.

Temperatures are forecasted to drop below the ten degree mark throughout next week, even though this will give some respite for the area, without any rain there is still not much of a positive outlook heading in to this year’s winter crop plant and soil readiness. The USDA WASDE report was also released this week but with little to touch on, the market stayed considerably placid. Although world production and stocks are up, the dryness being faced by the southern growing areas is taking its toll as the other concern is the cool and wet conditions experienced in the northern parts of the United States as well. As the trade war continues its streak with China imposing tariffs across a substantial amount of industries, it has also has played a substantial role in stressing out the Aussie dollar. The Aussie starts today a little over $0.775. Our currency is not the only one being impacted with the Russian Rouble also taking a hit due to ongoing sanctions also relating to trading and investment.

Market Prices

Sorghum 1

Sorghum 2

SFW1

Chickpea #1

Del Brisbane

$350 A/M

$325 A/M

POA

Del Downs

$335 M/J

$305 A/M

$345 A/M

$610 A/M

Del Narrabri

$315 A/M

$290 A/M

$300 XF A/M

$600 A/M

Del Newcastle

$340 A/M

POA

Sorghum has taken a substantial climb this week with prices rallying up about ten dollars mainly due to market shorts around the area for domestic and export use. The same can be said for feed wheat with the dry weather looking to flow right in to winter, the demand from graziers and feedlots is still very strong showing no signs of a backward step anytime soon. Across the board there has been raised interest in 2018/19 season crop with buyers testing the waters for Chickpeas, feed Wheat, Barley and Faba Beans (XF at $320 Goondiwindi, $310 Moree and $310 Narrabri). Chickpeas rallied yesterday with prices in to Narrabri and the Downs up $20-25 for delivered, ex-farm and in the system stock. Market shorts and small buying demand overseas can be seen as the main influencers, though as the harvest is almost complete abroad, with Ramadan (religious fasting month) from May to June we may not see the interest spiked till the next financial year.

Cotton picking is faring quite well thus far, with modules and round bales accumulating across ginning yards day by day. Most Gins are getting in to the motion with classing of first bales soon to be underway. Bale prices remain unchanged from last week with 2018 at $583, 2019 $562 and 2020 at $530. In regards to the crop stateside (US), the timeframe for planting is closing as the dry conditions look to stretch in to the later stages of this month. Production may impress in other regions but for now the prime growing area of Texas looks set to struggle for now.

Market Report

    Your Name (required)

    Company/Trading Name (required)

    NGR Number (required)

    Region (required)

    Your Email (required)

    Phone (required)

    ×