Rain in New South Wales and Queensland has caused southern wheat and barley values to drop $10-$15 per tonne in recent days, but the northern market has shown much less weakness.
Widespread rain forecast for much of Queensland’s grain-producing areas has animal feeders hopeful of an easing in prices, but not seeing any downward movement yet.
Major end-users like feedlots have joined graziers in the market for prompt-delivered feedgrains and cottonseed as the reality of the dry winter now upon us hits home.
The reality of poor autumn rains has severely reduced the winter crop potential in Queensland – see the latest forecasts here.
Australia’s chickpea exports in April totaled 70,963 tonnes, a 35-per-cent drop from 109,404t shipped in March, according to the Australian Bureau of Statistics’ (ABS) latest export data.
The feedgrain market centred on southern Queensland is believed to have peaked this week at $400 per tonne now that grain being shipped from southern Australian ports to Brisbane is trading at the same levels as wheat and barley sourced up-country.
Rural land values in Queensland’s Maranoa district have risen over 2017 to make them the top performer for inland Queensland, according to a Rural Bank report.
The cotton harvest in southern New South Wales has hit its straps this week, with all four gins now operating and ready to process fibre from a record planting of 90,000 hectares, up from 58,000ha last year.
Storms in the past fortnight have brought 10-250 millimetres of rain to cropping areas of Queensland and northern NSW, disrupting the summer-crop harvest in some areas, but bolstering planting prospects for the upcoming winter crop in most.
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.