The Australian Senate’s vote last night to cut 70 gigalitres (Gl) of water available to users in the northern reaches of the Murray-Darling Basin has sparked the ire of agricultural bodies including the National Farmers Federation (NFF), Cotton Australia, NSW Farmers’ Association, the Queensland Farmers’ Federation and the National Irrigators’ Council.
The strong year-end earnings of A$142m by GrainCorp in last year’s bumper crop would dwarf its current season outlook, seen cutting earnings projection by at least half for year-ended 30 September 2018.
The Australian sorghum crop now in the early stages of harvest is forecast to produce 1.47 million tonnes (Mt), according to the Australian Crop Report released today by the Australian Bureau of Agricultural Resource Economics and Sciences (ABARES).
Two of the Lachlan Valley’s best-known irrigation properties, Jemalong Station and Merrowie, are being offered for sale by Twynam Agricultural Group to wind up the company’s current investment in property in western New South Wales.
AgCAP has completed the sale of its initial Sustainable Agriculture Fund (SAF) portfolio, which included the sale to institutional and private equity investors of SAF’s three cropping aggregations at North Star and Darlington Point in NSW, and Lake Bolac in Victoria.
Nhill in Victoria at nearly 180,000 tonnes and Mt McLaren in Central Queensland on more than 155,000t topped the site intakes for GrainCorp’s up-country network in the winter-crop harvest which is now complete in Australia’s eastern states.
The median yield for the Queensland and northern NSW sorghum crop is forecast at 2.92 tonnes per hectare, just below the long-term median of 2.97t/ha, according to the January regional outlook from the Queensland Alliance for Agriculture and Food Innovation (QAAFI).
Hopes for average yields for much of the sorghum crop planted in Queensland and northern NSW hinge on rain in the next two weeks to even out already patchy conditions.
Major bulk handlers in Australia’s eastern states have received close to 11 million tonnes (Mt) of grain from the current harvest as activity in all regions winds down.
South Australian growers have delivered 1.2 million tonnes (Mt) of grain in the week to 17 December to bulk handler, Viterra, to take the state total to 4.8Mt, while GrainCorp reports the Victorian intake at 2.43Mt has now shot past the NSW figure of 1.98Mt.