Australia: Northern harvest cranking, south slow

Northern barley values have firmed amid peak harvest activity, while rain in the south has reduced new-crop availability this week.

Some export demand is evident for high-protein wheat, but the domestic market remains the only avenue for lower grades, and is seen by consumers as representing good value.

However, growers are generally holding back wheat from sale in the hope of further rallies, and barley remains the more common sell from the header to satisfy the hungry stockfeed market.

	Prompt Oct 30	Prompt Nov 6	Jan Oct 30	Jan Nov 6
Downs barley	$297	$310	$300	$310
Downs SFW	$330	$335	$335	$333
Downs sorghum	$335	$340	$318	$315
Mel barley	$330	$320	$325	$320
Mel ASW	$350	$350	$355	$350

Table 1: Indicative prices in Australian dollars per tonne.

The chickpea market is showing signs of firming, and more growers are engaging now that values have climbed to around $560 per tonne on farm.

A delivered Brisbane port price of around $610/t is seen as the most attractive option for growers ready to meet the chickpea market, and this has tightened up movements of cereals to consumers.

“We always run into a vacuum at this time; it’s all about getting the crop off, and not delivery,” one trader said.

“Another week, and I don’t think there’ll be much crop north of Moree left to harvest.”

Queensland growers are ripping into later crops, and the state is believed to be around 90 percent harvested across all commodities.

While the occasional cereal crop has screenings issues, quality is generally good, and growers are generally holding wheat after being off-the-header sellers of barley.

“Farmers are hanging on to stuff; wheat’s come up a little bit and barley’s come up a little bit,” Darwalla Milling feeds manager Gary Heidenreich said.

Broun & Co export trader Andy Cunliffe said accumulation for prompt chickpea cargoes has created some demand for nearby deliveries to port to get hatches filled.

“Chickpeas are being pulled to where they need to be,” Mr Cunliffe said.

“Our feeling is that growers in the north are selling pulses…and protein wheat too.”

A big faba bean harvest is largely over in the north, and does not appear to be pricing out of Brisbane to a well-supplied Egypt.

The delivered Downs market for faba beans is currently sitting at around $400/t.

“I don’t think you’ll get sellers at that price; we think growers could hold them until the next drought.”

As indicated by GrainCorp’s latest harvest figures, the peak of intake volume has shifted from Qld to New South Wales, with loads now being delivered at southern as well as central and northern sites.

Southern Qld’s sorghum crop is said to be two-thirds planted, and whether or not the final third gets into the ground depends on rain in coming weeks.

Bunge’s latest harvest report shows its South Australian sites received 13,268t for the week to Sunday, compared with GrainCorp’s figure for NSW for the week to Monday of 585,200t.

As of Sunday, Bunge SA had received 16,765t of grain from the harvest to date, which compares with the Viterra figure as at 3 November 2024 of 164,981t, which included some grain from western Vic.

Many SA growers, particularly between the Gulf of St Vincent and the Victorian border, are yet to start harvest, and rain has slowed many of those who were rolling ahead of the rain.

Higher SA registrations in the week to 9am today include: Laura 25mm; Maitland 22mm; Cummins, Minlaton Airport, and Paskeville 12mm; Roseworthy Ag 20mm, and Padthaway 25mm.

One SA trader said crops south of a line roughly from Adelaide to Pinnaroo to Warracknabeal in Victoria will benefit from this latest rain.

Those north of that line may lose some quality, although sprouting is yet to emerge as an issue because weather between rains has been unseasonably cool.

“We’ve seen some grower selling of wheat and barley, but a lot of growers are waiting for harvest.

“They’re uncertain about timing, quality, volume, and prices are not moving up or down much, so there’s no incentive to sell now.”

In Vic, rainfall in the week to 9am today includes: Dimboola and Ultima 23mm; Rupanyup 12mm, and Swan Hill 16mm.

Trade sources say Wimmera crops are looking excellent thanks to these late-season rains.

Tags: wheat, demand, sorghum, barley, price