As stated previously in passing weeks, winter is beginning to take its toll on most aspects across the state of New South Wales. With temperatures barely reaching maximums of twenty degrees during the day throughout the north and lows recorded of 5 below zero, this is not doing any wonders for emerging crops. Any rain that was hoped for seems to have dispersed and the only thing hitting the ground now is solid frost. July is characteristically quite impulsive for weather conditions, and international crop marketplaces, and it seems that this year is not going to break tradition. On an international scale, rain across the United States’ Corn Belt and in Western Canada has continued to keep the crop progress quite firm at a good to excellent level. There are a few anxious individuals that seem to expect some abstract shifts in advance to this evening’s USDA WASDE report, the data gathered from the WASDE report should have its typical influences across the board but also not change too many minds just yet. I feel it is more likely that the report will emphasis that the weather conditions will just continue to adversely impact the market supply.
2018 feed Wheat has positively kept its strengths that it has been drawing from over the past month. Prices of $340 delivered Darling Downs for January are up from last week with prompt delivery bids showing $325 which is a very nice increase in just under 5 days. F1 feed Barley cracks $300 with Sorghum only trailing by $15 at $285 for August/September Downs Delivery 2017. In regards to Chickpeas, there is little to report, as we continue to check the forecasts for weather and keep eyes on the peas evolving from planting, the prices have stayed quite placid. $965 delivered Brisbane Port for July in to August is where bids remain firm. 2017/18 bids for Chickpeas still remain unmoved significantly showing at the mark of $800 delivered Oct/Nov Narrabri and $870 delivered Brisbane for September and early October. Faba Beans were traded this week west of Narrabri for No. 3’s or better at $245 Ex-Farm for Jul/Aug pick-up for buyers call and as well west of Moree at $250 for the same delivery period. All parcels were for the domestic market. This shows that the current weather is having quite the impact and is a major driving force behind the market as of late.
APW multi grade for 2018 NTP Newcastle climbs again this week even though not by too much, it is still a very comforting sign at the mid $330’s. Gladstone and Mackay have also shown nice improvement with an increase of $10 showing at $300 and Brisbane jumping another $20 for NTP price of $340. The Queensland ports of Brisbane, Gladstone and Mackay for new crop Chickpeas are at $850 with Newcastle Port coming in at the same price for New South Wales for September/October delivery. Sorghum, as for Brisbane and Newcastle NTP prices are strong with ranging prices from $280-90.
Cotton remains quiet as grains take centre stage of the market show it seems. Values are not too inconsistent and continue their same streak as previous weeks have shown, with bids at $525/bale for 2017 cotton. For the 2018 season cotton it is still quite settled at a price of $490/bale. The Aussie dollar is still staying quite high and has barely altered in the past fortnight and at the moment isn’t showing any signs of shifting from just above $0.76 today.