Fact of the Day – Hummingbirds are incredible flyers, the ruby-throated hummingbird beating its wings 80 times every second. These tiny birds can fly forwards, hover, and are the only known birds to fly backwards as well.
Scattered showers arrived early Wednesday morning across the North West region, though it was only enough to dampen the footpath. The day most are watching is Friday, there is forecasted rain of around 15-30mm, and there are many banking on this with growers planting over the last few days. Although very minimal and nowhere near enough, it will still add to previous weather received over late March and April. In international news, without sounding like a broken record, officials in the US still suggest China talks are going well. Although they continue to be pushed further and further down the calendar, the impatience of both parties is continuing to heighten, along with bluffs of just ceasing negotiations immediately. The AUD stands at $0.705, it has been steady on the back of the reserve bank’s recent predictions and as well the upcoming Federal Election.
Chickpea bids have emerged after another long hiatus, though buying interest is still only very minimal, and prices are nowhere near growers current targets. 17/18 crop sits at $660 on the Downs and $640 in the Namoi sites, where 18/19 season is bid at a $60/mt premium. This grabs some attention, though still after this long of storing peas, sellers are much more inclined to keep holding until the market cracks with any promising activity… (not looking to be anytime soon). Feed markets have softened over the past few weeks. With Wheat, Barley and Sorghum staying all relative, prices have lulled by about $10-12/mt. There still remains a certain amount of stock around on the west coast, though if they also do not receive any rain ahead of this winter crop, stocks will again become extremely tight and pricey heading in to 2020. Nothing too exciting on the cotton front, futures have sightly slipped away this week as trade talks continue to become more and more spread out. Bale prices today have jumped nicely for current and seasons ahead, 2019$625, 2020 $606 and 2021 $555 (at time of writing).