Typical Summer storms over the past week have been patchy and dumped reasonable rain in some areas while other’s missed out or received disappointing falls. Bellata had it’s fair share of rain and some falls recorded for the week have pushed 90mm, plus. Pilliga received good storms and over 100mm in patches. Narrabri measured around 40mm while Walgett received bugger all. Liverpool plains have received good falls in parts as well which will benefit summer crop programs.
At the moment, we are seeing demand for wheat and barley in the north and LPP but mostly for Jan and further out delivery. Prompt homes are harder to come by, especially on the LPP. Wheat delivered Downs today is $326/mt for Jan, $306/mt delivered Ntl and $297-8/mt delivered LPP. We still have demand for high protein wheat delivered Narrabri, with HPS1 today bid at $300/mt delivered for 15%+ protein.
New crop sorghum values are currently around $290/mt delivered Downs, and above $300/mt delivered Newcastle, with a $15/mt discount to SOR2 in Ntl. Delivered local LPP destinations are in the high $270’s for new crop. Mungbean hectare contract enquiry has sparked again with some rain around, and prices still around $1200/mt delivered Dalby for No1 processing quality. Processing quality has increased $50/mt and is now at $1150/mt delivered. This is for a Summer crop, for Feb/March/April delivery.
With our Dollar now around 0.825USD, it has given a boost to cotton prices as futures continue to decline. Today, bids are $472/bale for 2015 crop.