Fact of the Day – For the 2019 Australian open, the top three seeded men’s players are unchanged from the 2009 open, the three champions being Roger Federer, Rafael Nadal and Novak Djokovic.
The heat in the last week, as well in the coming days is taking its toll on everything, with the pressure the crops are under more than evident. With the North West and Southern Downs facing 5-6 days over 40 degrees, there hasn’t been, nor will there be, any respite as we approach the end of January. What we are facing is historically no different to any other start to the year, though the main factor is that the region has not received sufficient rain in over a year to be able to tolerate the harsh summer conditions. Sorghum pricing continues to firm day by day, with the main driver being the production uncertainty, paired with current temperatures. Delivered in to Brisbane/Downs prices sit at $375/$365 with ex-farm bids floating at $335-$345 dependent on location, mostly around the border regions that are set to harvest soon, if not already. Early reports of quality seem to be a little light, as we didn’t receive the final finishing rain, some crops are looking to float between sorghum 1 and 2, though this will be more telling as more growers get in to the paddock.
Domestic demand around the Darling Downs is becoming a little thinly stretched as there continues to be delays coming out of the western ports, for now the short-term fix is pulling grain up from NNSW and having to pay a heightened price from where the market stood at the end of last year. Feed wheat on farm is bid between $445-455 dependent on location. Nothing exciting has really changed in the last week on the cotton front, except the pace plants are deteriorating in this scorching heat. As well even though the super powers of the world have been talking, there has still been no beneficial outcome worked out yet regarding workable trade agreements. Prices today for seasons ahead now stand at 2019 $585 and 2020 $585 (at time of writing).