The Queensland harvest is normally brief and sharp, as producers in Central Queensland and the Darling Downs wind up by the primary week in November. As of final Friday, GrainCorp had obtained 1.273 million tonnes in Queensland, as clear climate allowed a fast harvest. Final week noticed harvest sluggish after two weeks of deliveries across the half-a-million stage.
Queensland is in entrance within the GrainCorp community, however after this week, NSW is more likely to go straight previous it. Clear climate later within the week ought to see harvest get an excellent head of steam up. Early November final 12 months noticed NSW obtain 1.4mmt in per week, the biggest week of harvest.Victorian and South Australian harvests have solely simply kicked off, with just a few northern websites open and receiving early barley.
Determine 2 exhibits harvest is slower than final 12 months, when the week 3 complete was simply over 1mmt greater. Intermittent rain delays in northern NSW look to be in charge for the slower begin, as it’s NSW the place the deficit on final 12 months is largest. The approaching month will see a overwhelming majority of harvest are available in if the climate performs the sport.
On the value entrance, bettering commerce outlooks within the US seem to have negated any harvest strain right here in the interim. Cereal and canola costs gained some floor final week, regardless of harvest coming in. Determine 3 exhibits barley costs and ASW wheat futures all ticking up final week, though coming off a low base.
