Report prepared 8 November 2024.
Bumper yields are being reported for wheat, barley and canola across the north and central west. Wheat quality has been higher than last year.
Source: Ag Scientia
The NSW harvest is ahead of last year with GrainCorp receivals double compared to the same period last year. Barley prices were lower.
Source: Grain Central
Sorghum markets were slightly firmer with patchy local demand. Growers are waiting for another rain event to spur plantings in NSW and Queensland.
Source: Profarmer
The latest report from USDA forecasts lower world production, consumption, ending stocks and trade in 2024-25, with cotton futures falling.
Source: USDA
Local canola prices continued to rally last week, before easing in line with offshore oilseed markets. Canola quality has been good in early harvest.
Source: Profarmer
Chickpea prices have eased with harvest pressure. Good Indian monsoon rain has raised production estimates for the upcoming rabi crop.
Source: The Land
Raw sugar futures eased this week. Indian sugar mills are hoping to export 2 million tonnes of sugar this season with high stockpiles at hand.
Source: QSL
The EYCI fell this week with higher volumes through NSW. The premium for steers over heifers continues, with reduced demand for breeding females.
Source: MLA
Australia exported record volumes of beef in October 2024, the second time this year the record was broken, with 130,049 tonnes exported.
Source: MLA
The National Trade Lamb Indicator fell with Wagga the major saleyard . Weekly sheep slaughter reached the second-highest level since 2008.
Source: Mecardo
Strong demand in the wool market this week, even with a stronger Australian dollar. Wool offerings were lower following recent weak prices.
Source: AWI
Climate indicators have been steady in recent months, with some climate models still predicting a La Nina to form, albeit likely a weak one if so.
Source: Bureau of Meteorology