GrainCorps Pre-Harvest Optimiser is coming soon! Pre-Harvest Optimiser participants have the ability to take advantage of pre-harvest markets whilst also allowing involvement in any market upside at harvest. Participants will have exposure to northern hemisphere crop conditions with finalisation by July 2014. One key benefit of Pre-Harvest Optimiser is peace of mind knowing that your washout is capped at $25. Contact Sue, Wayne, Tony or Anna for further details.
Border Region & Golden Triangle:
Majority of the district has received excellent rainfall over the past 2 to 3 weeks, areas from Yelarbon to Talwood now have adequate moisture profile in fallowed paddocks.
Further west Nindigully to Dirranbandi and Hebel grain growers still require at least 100 to 150mm of rain to allow a winter crop plant.
North Star and Croppa Creek have adequate moisture profiles to prompt winter crop planting.
We still have time on our hands for another rainfall event to occur and achieve a full moisture profile prior to planting in late April early May.
The down side to any rain fall in the Goondiwindi and Golden Triangle areas is the sorghum harvest.
Majority of the early planted sorghum was mature and ready for harvesting as the rain started.
Quality in the pre-rain harvesting was excellent, high test weight and sound grain were still being achieved.
Post rain, issues may arise as some crops have received over 200mm since maturity, test weight and sprouting may be an issue with post rain sorghum. Samples have been presented at GrainCorp Sites and these appear to be SOR1, we will require additional samples or load deliveries to be comfortable with any further quality assessment.
The majority of the sorghum plant is late and any rainfall to date has been beneficial to this later crop, we do not foresee any quality issues in the late crop.
Offshore markets have been quite subdued over the past month due to favourable weather conditions across the US. Winter wheat growing areas as well as funds liquidating their wheat positions.
The increased competitiveness of US origin wheat has provided some support to the market, however the weight of the sellers is winning out for now. Demand has increased for US wheat with wheat now displacing corn into the feed ration, and there is talk of wheat displacing corn in Ethanol production and increasing export business being concluded.
Australian wheat values have largely followed suit however they have reduced competitiveness to other origins as growers are well sold, at the same time there is strong demand by exporters to cover current commitmets. This is exaggerated in some port zones as prices for certain grades differ significantly to other port zones, driven by regional supply and demand anomalies.
Current season grain values are trading at significant premiums to new season values as anticipation grows of a return to normalised northern hemisphere production dynamics, and tight supply situation prior to this new crop competition commences.