The month of June has been generous with rainfall and added valuable soil moisture to the coffers of the New South Wales broadacre farmer.
For some, the rain has been welcomed as a fair dinkum season-opener.
For others, it has consolidated what has already been a very good start to the 2020-21 growing season.
As expected, crop conditions are responding positively.
But grain markets can also be very responsive to rain and, given the excellent local conditions and some improvement in overseas production prospects, grain prices have been on a steady downward trajectory in recent weeks.
Across NSW, the impact of the rainfall is clearly evidenced by an improving Normalised Difference Vegetation Index (NDVI).
Using satellite imagery, this provides an indication of plant health.
Although the NDVI is not setting anywhere near the same record pace we saw last year, a state-wide average for the NSW cropping belt shows this year's crop is treading a similar path to that of the 2016-17 season.
That was another harvest that most growers would be happy to revisit.
But, unlike 2016-17 - or last season for that matter - NSW will enter the coming harvest with a considerable carry-in.
In fact, the state will be carrying the vast majority of Australia's surplus.
This is despite the export program running at full capacity, which is likely to continue until the headers start rolling.
Demand for feed grains into the Darling Downs is such that requirements are being met with supply from the north of the state.
But it is the export channels that are providing the benchmark for pricing.
With trucks in short supply, the tight road freight situation has meant the spread in bids between road-only sites and rail sites has widened.
This means exporters and domestic consumers with rail assets are well incentivised to own grain in rail sites.
There does not appear to be a short-term fix for the road freight shortage.
Given current crop prospects suggest we have another big export-driven market crop ahead of us, it is probable the market will again be preferencing stocks in those key NSW rail sites.
As it typically does at this time of the year, Northern Hemisphere weather is providing a lot of the direction in today's grain markets.
At the same time as some much anticipated rain has been received across the Mid-West region of the United States, helping corn and soybean crop ratings in those parts, the US spring wheat crop is suffering at the hands of relentless heat and dryness.
It is in the worst condition seen for a generation.
This dryness also manifests itself in mounting crop concerns across parts of Canada and Russia, which will continue to remain an important consideration of the market going forward.
Any market decline is always disappointing for growers.
But with prices holding at historically good levels and enough possible weather issues around the globe to provide further marketing opportunities, there remains a lot to be optimistic about.
The main driver of optimism, though, is the sight of full rain gauges and green paddocks.
