Commodities
WHEAT
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$370/t (APW). Steady. No change in the domestic market; winter crop outlook appears bleak with low soil moisture and lack of rain during crucial germination period.
Source: Ag Scientia
BARLEY
$320/t (feed). Steady. Domestically, price has remained strong (up 16.4% since January) and steady with demand from feedlots making the current market a sellers’ market.
Source: DPI
SORGHUM
$355/t. Steady. Calm in the sorghum market but expectations abound that new season’s sorghum will fetch high prices as tight grain supplies pushes demand and price.
Source: Ag Scientia
COTTON
$655/bale. Up 1.2%. Futures prices were little changed to remain not far off recent highs. The US dollar’s gains are having little obvious impact.
Source: CommBank
OILSEEDS
(Canola). $550/t. Steady. Rabobank’s new forecasts puts canola plantings down 13% across Australia (2.8 to 2.4 Ha) as the dry conditions forced farmers to push back sowing.
Source: Rabobank
PULSES
(Chickpeas). $550/t. Steady. Price remains elevated with Ramadan ending and demand from Pakistan rising; speculations abound that Bangladesh may also look for restock supplies.
Source: AgVantage
CATTLE
479c/kg (EYCI cwt). Up 0.6%. Prices saw a meagre gain this week with no major movements expected until a big rain event. Yarding level was down 17% this week at 51,000 heads.
Source: Mecardo