Report prepared 15 March 2024.
Wheat prices eased with strong export data from the Black Sea. Good soil moisture profiles across the east coast have lowered new crop prices.
Source: AWB Cargill
Barley prices eased with low export demand amid high world soybean and corn supply. Prices remain slightly higher in northern markets than Victoria.
Source: Profarmer
Sorghum firmed slightly with thin trading as harvest has ramped up in northern NSW and Queensland. Feed buyers remain covered through to April-May.
Source: Grain Central
Old crop cotton prices in the United States have eased despite low supplies at present with Australia nearing harvest and the US crop sold off.
Source: Cotton Grower
Canola prices lifted this week. The oilseed meal market remains in a glut with better supply but lower demand from the Chinese pork sector.
Source: Rabobank
Chickpea buyers have shifted their attention to May deliveries with the sorghum harvest expected to add pressure to grain storage capacity.
Source: Profarmer
Dubai sugar conference cautiously bullish given the significant risk of Brazil supplying an increasingly large portion of global raw sugar exports.
Source: QSL
Higher yardings sent the EYCI lower, with supply up 14% over the previous week. Tamworth had the highest average price of the NSW saleyards.
Source: Mecardo
Processor cows were down sharply, back down to December levels. Market reports indicate buyers are favouring heavier cattle regardless of age.
Source: MLA
The sheep market fell for all indicators, even with lower yardings in total. NSW saleyards are at a premium to other states for trade lambs.
Source: MLA
Mixed results this week with Sydney recording higher prices across all micron grades, while Melbourne and Freemantle finished mostly lower.
Source: AWI
El NiƱo conditions are expected to end by late April, while April to June is expected to be warmer than average with a neutral outlook for rainfall.
Source: Bureau of Meteorology