Fact of the Day – The Sun accounts for 99.86% of the mass of the Solar System. You could fit 109 Earths side by side to match the diameter of the Sun, and it would take 1.3 million planets the size of the Earth to fill it up.
We look to Vietnam as the world watches the strange security measures some world leaders have in preparation for this week’s summit. The supreme leader and Trump will be at the top of the list for intrigue as they continue to make headway on nuclear disarmament, China will be second to tune in for as they talk trade negotiations. Currencies have had a moving week with the US dollar dropping away, the Aussie dollar made modest gains on the back of this news. Today the dollar opened at just under the $0.72 mark.
The month of March is tomorrow, and even more pleasing, Autumn. Although the forecast doesn’t look too different, here is hoping the cooler and wetter days are only just around the corner for all. Going off just the last two months, not much change has occurred on the grains and feed front. Demand is still rampant across the eastern states for anything that is edible and that will produce energy for struggling lot feeders and graziers. Sorghum has had a deflating week on the back of last week’s gains, though the demand for top grade is still very much there, as the season has produced higher percentage screenings than previous years. Pricing is floating at $340-50 XF Moree and Narrabri subject to location, with bids improving heading south. Pulses are still not worth the comment due to their demand being next to none, bids looking around $760/mt Downs.
Cotton continues its lacklustre form as it struggles to find its place on the back of trade negotiations and US planting estimates. Last week we saw bale prices jump by about twenty dollars, though that has now subsided, and pricing is back to sub six hundred levels. Picking across the area will be in full swing over the next few weeks around the North West, as cotton continues to battle the woeful conditions. Prices today for seasons ahead stand at 2019 $590, 2020 $585 and 2021 $545 (at time of writing).