With rains falling over the past 24 hours, particularly to the south and west of Narrabri, it will be interesting to see what effect this will have on the market going forward. We have heard of 30mm around Mungindi, 20mm at Walgett, up to 55mm at Coonamble, 10-15mm Narrabri, and 10-20mm North Star. Perfect timing for some crops, others probably too late.
Will it be enough for growers to plant sorghum & mungbeans? We have seen mungbean selling in the past few weeks for growers looking to plant mungs for this season. A number of growers have indicated that a fall of rain will increase their intended area. Today our No1 Processing price has increased by $50/mt to $1200/mt delivered Downs. These are hectare contract prices. We are also able to supply AMA certified Crystal & Jade seed.
New crop domestic markets have come under pressure in the past few weeks. 2-3 weeks ago I was comparing delivered Downs numbers and local packer values for protein wheat. Any grade including and below H2 would work north. This seems to have shifted with the northern markets now bid in the $280’s for 70/10 harvest delivery. This makes deliveries into the local packer more attractive for all grades, including APW-type grain. We urge you to call us to do the comparisons prior to making any marketing/delivery decisions where possible. We have buyers into all destinations and have a large variety of contracts available with a large number of buyers this harvest shifting to 12 or 14 day end of week payment terms!
For anyone still holding old crop chickpeas, we have missed the boat, so to speak. Prices have pretty much dropped off the radar for old crop as we are just around the corner from new crop harvest.