Another great fall came across NNSW and SQ over the weekend. Falls ranged from 25-125mm depending on location. The massive drops seem to be scattered around the Liverpool plains, though the sheer amount was too much to quick to gain the most benefit of the soaking. Narrabri and surroundings ranged between 45-60 which is a nice buffer on the back of recent falls, though there will need to be some severe follow up to move in a positive direction. The border regions have been the most profitable out of March/April rain, with Goondiwindi and close by areas having received about 6-8 inches over the last fortnight, this gives the area a fantastic start to what still looks like a considerably dry winter. None the less, it is a starting platform for the season ahead and a nice change of scenery if anything.
Feed grain prices softened after the recent rain, though by not much as there is still high demand for the months out till the next winter crop is harvested. Chickpea bids have surfaced here and there, but mainly for 17/18 crop, and prices are not at all appealing enough to comprehend.
Cotton, along with the rain have been the good news stories over the last week to ten days. Futures have held their own, and with demand creeping up due to a significantly smaller Australian season, prices are comfortably at the $630 level. Bale prices today have jumped nicely for current and seasons ahead, 2019 $632, 2020 $610 and 2021 $550 (at time of writing).