Faba bean prices have taken a bit of a dive into Narrabri this week. A few weeks ago we reported that above $400 most buyers wouldn’t be able to compete as the offshore market wasn’t that strong. The buyers posting high prices to get grain through their facilities have now pulled bids back in-line with other buyer’s bids. Moree values remain strong (compared to Narrabri) at $395/mt delivered with only a $10/mt discount to No2’s. Domestic consumers are out of the market due to strong export values and at these prices, we would recommend giving strong consideration to selling now.
New crop sorghum delivered Downs remains in the low-mid $260’s for March/April delivery and Brisbane just over $280/mt.
New crop F1 delivered LPP is currently around $252/mt for Nov/Dec delivery. Compared to track values and other ex-farm bids, this is a very strong number that should be given some consideration for those looking to price some harvest deliveries for cashflow. In the north, we have demand for up to 350mt barley for pick-up this week at a premium over new crop prices. Harvest values delivered Texas are $252/mt delivered and can be delivered off the header. Most other homes are difficult to move off the header due to space availability.
Chickpea values have softened again this week. Delivered Downs values are $433 and delivered Narrabri is $408.
A reminder for any growers who believe they will have high protein wheat. A quick comparison of multigrade prices versus packer values – APH1 $318 del Nbri versus $285.50 del Nbri GCORP. That’s a difference of $32.50. That spread is greater when you have a grade like HPS1 with min 13% protein. $270-275 del Nbri packer versus 235.50. That’s a difference of $34.50-39.50 per tonne! Even a 100mt parcel is a $3,450 difference – straight into your pocket!!