The NSW 4.8 million tonnes with an average yield of 1.45 tonnes a hectare, if realised, will be the state’s smallest winter wheat crop in a decade and the lowest average yield since 2009-10.
It is expected some cereals will be destined for the feed market when headers get moving again after a wet week.
We are now looking at December futures being $200/t. That means virtually nobody can grow wheat and make a profit at current price levels.
Sporadic thunderstorms, dumping as much as 40 millimetres in some areas, has limited harvested activity through central and southern NSW in the past week.
In the north of NSW, the ongoing rains will continue to bolster the outlook for summer crops, but elsewhere it is damaging ripe crops and delaying harvest.
While farmers in Russia, Ukraine, the US and Europe are all planting or have just finished planting their winter crops, Indian farmers too are thinking about planting their next wheat crop.
GLOBAL barley markets have been quite subdued and uneventful in recent weeks and appear to be in search of news that will set the tone as we enter the northern hemisphere winter.
Showery weather and below average temperatures are delaying a general start to grain harvesting through southern NSW.