Fact of the Day – Stephanie Gilmore has won her seventh world surfing title after finishing on top of the season ending Pro event yesterday in Maui, Hawaii. This win has tied her with fellow Australian Layne Beachley for most women’s world titles. Gilmore downplayed if Kelly Slater’s record of 11 titles was next on her agenda.

Scattered showers have draped across the North West and plains, with the amount intensifying the further south and closer to Sydney you go. The Liverpool Plains and hunter have received about 10-15mm, with Sydney copping a horrific downfall of over 110mm in the past 24 hours. The northern border regions, although still aching for more, are happy with the recent falls as they gave summer crops and grazing country a well needed drink. The mercury is set to be knocking on 40’s door this weekend which should quickly dry up the water still lying on the sides of the road. Lack of rain received in the Darling Downs has forged a strong rally for new crop sorghum, with market prices jumping $10-15/mt since the start of the week. As we now have Sorghum crops across all stages, we will also see further plantings across the region with harvest/delivery periods stretching from late January out to May of next year. Wheat and barley markets are steady as there is still significant supply around the area when considering the season and year we have had.

As I have been building up to the last fortnight, the G20 summit is looking to be set for a showdown for a large amount of the countries attending. We have the Chinese and US trade war that is only becoming more tense prior to the required talks between the two heads of state. Australia also has their own quarrel to discuss with the Chinese on the barley anti-dumping probe that was brought forward last week. Then, the most heated topic of recent days is the military action evolving between Russia and the Ukraine around Crimea, this I figure will be addressed between President Trump and Putin, with Trump speaking on behalf of President Poroshenko. With Ukraine looking to enforce martial law in retaliation to the Russian navy firing upon and seizing Ukrainian war ships on Saturday, this will play a role in how the export market reacts to the closure of required shipping lanes. Once again, watch this space….

Chickpeas have been quite dormant the past week, though still haven’t taken a backwards step from their recent highs. Quality seems to be the only problem besides the dwindling yield, with defects and splits creating most of the hassle for growers, forcing them to incorporate grading fees and discounts for more leeway on specifications. With both old and new crop still being sought after, selling demand is still very minimal due to prices just not satisfying grower targets for now.

Indicative Pricing

CHKP 17/18

CHKP 18/19

Brisbane FIS

$810/mt

$905/mt (Jan/Feb)

Downs Oakey

$790/mt

$890/mt

Goondiwindi

$800/mt

$865/mt

Narrabri

$770/mt

$870/mt

Wee Waa

$765/mt

$855/mt

Monday we saw cotton futures rally, though that was quickly pulled from underneath us with Tuesdays losses. For now the market is quite static with low investor interest, as well as uncertainty on global production and this weekend’s possible summit outcomes. We don’t expect anything too exciting this week price wise, though next week could be make or break depending on any newfound Chinese and US relations, let’s hope for a Christmas miracle. Prices today for seasons ahead now stand at 2019 $6042020 $590 and $536/bale for 2021 and 2022 (at time of writing).

Market Report

    Your Name (required)

    Company/Trading Name (required)

    NGR Number (required)

    Region (required)

    Your Email (required)

    Phone (required)

    ×