Report prepared 2 May 2025.
Australian markets remained stable with subdued activity. The USDA has rated half of the US winter wheat crop as being in good to excellent condition.
Source: Profarmer
Tightening supplies and domestic feed and export demand expected to support prices; almost 300kt is scheduled to be exported from Vic and NSW in May.
Source: Profarmer
Sorghum prices have held up despite a firmer AUD. The trade accumulation for upcoming bulk sorghum exports is slowing as it enetrs the latter stages.
Source: Profarmer
International Cotton Advisory Committee expects global production to rise 7% in 2024-25 but consumption to grow 2% indicating a bearish outlook.
Source: Fibre2Fashion
Canola and wheat price spread favours canola sowing where possible. The $100 spread between conventional and GM canola seeing more conventional sown.
Source: Mercado
India estimated to have imported 6.5 million tonnes of pulses in 2024-25, 40% higher yoy; their total area sown to pulses was down 12% from 2020-21.
Source: Saskatchewan Pulse Growers
Global sugar price indicator was softer in part due to anticipated substantial production in the 2025-26 harvest season from Centre South Brazil.
Source: QSL
NSW Feeder Steer Indicator was 3% lower at 388.5¢/kg lwt.Year-to-date cattle slaughter for 2025 is 9% above the numbers for the same time last year.
Source: MLA
Dry conditions continued to support cow turn-off, causing prices to ease and approach the indicator price realised in July 2024.
Source: MLA
National lamb numbers were up 3% to 248,342 on the week easing prices. National Heavy Lamb Indicator was flat at 849¢/kg cwt despite 11,600 less head.
Source: MLA
Stronger AUD to USD impacted wool prices. Better quality Merino wools were achieveing up to 50 ac/kg extra for similar micron and vegetable matter.
Source: AWI
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