Weekly Commodity Report

Report prepared 12 July 2019.


$373/t (H2)


Weather continues to be key to US wheat quality as harvest continues however Black Sea values continue to set the floor for wheat export prices
Source: Rabobank


$358/t (feed)


Low soil moisture and below average rainfall outlooks mean feed grain will continue to be in high demand across livestock sectors in eastern states
Source: Grain Central




Old crop sorghum has nearly sold out so there will be little trading until new crop is released. Wheat or barley will be the staple in feed rations
Source: Farm Weekly



Down -0.7%

The US cotton market closed for Independence Day, though prices had fallen during the week, which was offset domestically by the lower exchange rate
Source: Namoi Cotton




Down -0.8%

Crop conditions have stabilised in VIC and SA. The USDA report drove the market lower this week as bean and corn estimates were higher than expected
Source: Lachstock Consulting





The Indian monsoon season has begun with lower than average rainfall, which may lower chickpea production in India and boost the Australian market
Source: RainAg



Down -2%

Brazil delivered 1.1 million tonnes to close out their contract position despite 800,000 tonnes having already been supplied for ethanol production
Source: QSL


492c/kg (EYCI cwt)

Up 0.7%

Competition between processors and restockers has supported prices, especially in NSW as stock shortages drive the market increase
Source: Beef Central


202c/kg (lwt)

Up 3.6%

A trade deal between South American countries and the EU provides encouragement that direct EU quota allocation may be possible for Australia
Source: The Land


902c/kg (NTLI cwt)

Up 0.7%

Prices continued to increase as old season lamb numbers dwindle and ongoing poor seasonal conditions mean supplies are likely to remain tight
Source: ALPA


2,022c/kg (Mel 21mc)

Down -2.2%

Demand issues continue to drive the wool market as seasonal conditions affect supply increasing price volatility with a larger supply of lower micron
Source: Mecardo


Dam levels continue to fall as NSW experienced its driest June in 33 years with the positive Indian Ocean Dipole likely to produce patchy rain events
Source: Weatherzone