Fact of the Day – On Monday Tiger Woods won his 5th green jacket at the US Masters in Augusta. This victory comes 14 years after his last and 4th Masters triumph, with Woods battling both on and off the course issues over the last decade. With this win, Tiger confirmed again he is one of the best to ever play the game, along with earning one of the greatest ever comebacks in sports history.
No rain for April has arrived yet, with the forecast not predicting any falls till at least mid to late May. The current conditions around the region are still extremely poor, though some growers were lucky enough to get in some seed off the back of recent rain we had in late March. For now the temperatures have cooled as we approach Easter, though the dire need for more moisture could not be more emphasised in regards to the upcoming winter season. Abroad, eastern European countries are holding up the global supply for now, as US planting schedules seem to be significantly behind the pace of previous seasons. The next 6 months look to be quite tough regardless of what hemisphere you are based, though for the Australian east coast, it’s the fact that one bad season has now come off the back of at least 3-5 bad seasons.
On the pulse front, there is no real news heading at least out until about June, though this could also stretch even further throughout the year. With India doing their own thing, the global demand is just not high enough to warrant pricing for Chickpeas here at home to lift. For now delivered prices sit indicatively at $630/mt for Wee Waa/Goondi for 18/19 crop, and a discount of $40/mt less for 17/18 peas. The main point to take from this is that at least bids and market interest is becoming a little more frequent once again. Feed grains continue to stay firm with demand not slowing down heading in to continued dry times.
Cotton futures fell sharply on Friday, but since have been making good head way back to the previous levels we have seen the last month. There is still the continued uncertainty of what is occurring abroad via trade deals, though here at home, bale quality is slipping quite a bit considering the harsh season faced by all. Bale prices today have jumped nicely for current and seasons ahead, 2019 $630, 2020 $600 and 2021 $550 (at time of writing).
Have a nice Easter break