In the past week the trade have been heavy sellers of new crop wheat and barley. New crop wheat selling has occurred between $300-305/mt. As a result of strong trade selling late last week, new crop delivered Downs values have fallen this week, and are generally sub-$300/mt delivered.
Old crop shorts are also filling quick and last week we had bids of $325/mt delivered Downs for September movement, this week it’s back around $350/mt.
We are seeing strong demand for old crop sorghum delivered Downs between $295-300. We haven’t quite hit the $300 mark yet but willing to take offers at this level. Old crop sorghum in the north remains hard to come by.
Mungbean prices remain well supported with strong grower selling last week. A reminder to anyone looking to contract munbeans with us, we are able to supply Certified Crystal or Jade seed. We are still looking for that planting rain to happen which will spark another wave of sellers of mungbeans.
New crop fabas delivered Narrabri today are around $428/mt for No1’s. It’s interesting to note that one exporter said to us this morning that French and UK fabas are being traded into Egypt at $100/mt below Aussie values. He also placed his bid at $395/mt delivered Narrabri for No1’s and a $15-20/mt discount for No2 quality. We should see more prices for fabas in the coming weeks as growers north and west of Moree will start harvest towards the end of Sept, early Oct.
Old crop chickpeas are moving slowly and although demand is not huge we are still moving a few parcels each week. It seems most are moving into Narrabri rather than north as cheap freight from carriers is making it the best option.