FARMERS continue to make inroads into planting the 2018 grain crops despite the ongoing dry weather.
Another week as passed with minimal to no rainfall across the major NSW grain production regions.
Blustery, wintry conditions resulted in some welcome light showers across the Riverina and the central west, but the rain didn’t extend into the north of the state.
Most of the Riverina registered 10mm to 15mm for the week.
Last week’s showers back-up the light rain a week earlier.
Falls were heaviest in the southern slopes with Young and Harden recording around 20mm for the week.
Showers extended into the central west where the heaviest falls were in the slopes.
Cowra, Eugowra and Forbes received 12mm to 18mm.
However, totals tapered away west of the Newall Highway and to the north. Condobolin and Nyngan received around 4mm for the week.
While farmers hold out for more substantive rainfall, the accumulation of showers in the south of the state in the first half of May has made a difference.
Most of the Riverina has received 15mm to 20mm in the first two weeks of May which is approaching half of the months average.
Dust plumes are evident across all areas of the state as farmers progress with planting, despite the absence of the traditional seasonal break.
As the dry weather continues, more farmers are deciding to plant crops dry in the hope of rain in the coming weeks.
Barley plantings are expected to benefit from the dry weather as more farmers opt out of other crops, such as canola.
Domestic grain prices continued to strengthen in the past week, ignoring decline on overseas markets, as buyers become more desperate to secure supplies.
Domestic demand has stepped up in recent weeks as buyers move to secure old crop supplies considering the deteriorating prospects to the 2018 season.
Grain brokers are reporting heightened interest from buyers who are just want to secure grain, despite the rapidly rising prices.
Benchmark Chicago wheat futures tumbled by around five per cent last week after the US Department of Agriculture forecasts a larger than expected US wheat crop, despite the tighter outlook for the broader global supplies.
Dust plumes are evident across all areas of the state as farmers progress with planting, despite the absence of the traditional seasonal break.
Global wheat stocks are set to decline for the first time in six years according to the USDA’s first detailed forecasts for the 2018/19 season released late last week.
The USDA said 2018/19 world wheat ending stocks by a modest 6 million tonnes from the record large 270 million tonnes in 2017/18.
The forecast looked even more encouraging when China’s burgeoning grain stocks are stripped out of the forecasts. World wheat stocks less Chinese stocks are set to tumble by 18 million tonnes to 126 million tonnes which would be the smallest since 2012/13.
The same applies to corn where world stocks less Chinese for the 2018/19 season are expected to decline by close to 20 million tonnes to the smallest level in five years.
The overriding message from the USDA’s forecasts was that world grain supplies are set to tighten after several years as robust demand for wheat and feed grains cuts available stocks by around 12 to 14 per cent.
