Weekly Commodity Report

Report prepared 30 May 2025.

Wheat

$350/t (H2)

Steady

Wheat prices were generally softer following overseas markets. Traders expect a large wheat carry over into the new crop especially in north-west NSW.
Source: Grain Central

Barley

$329/t (feed)

Down -1.2%

Barley carryout this season forecast to be tighter than last year with steady export demand and domestic demand remaining firm given southern drought.
Source: Profarmer

Sorghum

$375/t

Steady

Sorghum markets remained stable, most growers have sold their sorghum and bulk export programs are winding down. Harvesting in Central Qld is ongoing.
Source: Grains Central, Profarmer

Cotton

$608/bale

Up 0.04%

US cotton futures market was under pressure from favourable West Texas rainfall, rising inventories, and bearish sentiment in other commodity markets.
Source: Fibre2Fashion

Oilseeds

(Canola)

$791/t

Up 1.4%

Offshore markets were steady to slightly higher; markets are focused on northern hemisphere conditions including increasingly dry Canadian Prairies.
Source: Profarmer

Pulses

(Chickpeas)

$827/t

Steady

.India has extended duty-free access for yellow peas to March 31, 2026. A substitute for some desi chickpeas, peas are supplied from Canada and Russia
Source: Western Producer

Sugar

$589/t

Down -3.6%

European beet area in 2025-26 forecast to be 7% lower year on year. Pre-monsoonal rain is occurring across SE Asia and southern India sugar regions.
Source: QSL

Cattle

734/kg (EYCI)

Up 7.1%

Strong sales to China could trigger China Safeguard tariff mechanism as early as late July or August and will see cost of Australian beef rise by 12%.
Source: Beef Central

Cows

265c/kg (lwt)

-8.4%

The Bureau expects rainfall to be within the typical winter range for most of NSW along with warmer than average winter days and nights for the state.
Source: BOM

Lamb

1,005/kg (NTLI cwt)

Up 12.5%

National Heavy Lamb Indicator hit an all-time high of 1,005¢/kg cwt this week, on tightening supply conditions and heightened processor competition.
Source: MLA

Wool

1,204c/kg (EMI)

Up 0.1%

Australian Wool Production Forecasting Committee’s fourth estimate of Australian production in 2024/25 is 280 million kg greasy 11.8% down on 2023/24.
Source: AWI

Weather

Bureau of Meteorology forecasts likely above average rain for most of NSW except south-east and coast, with warmer overnight temperatures for winter.
Source: Bureau of Meteorology