Prices 15/10/18

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Storms are active along the NSW / Vic and SA border regions this afternoon. Looking at a cloud map it’s pretty obvious the high cell in the Tasman is combining well with the low cell off the SE coast of QLD to push moisture laden air west of the ranges and across the eastern wheat belt.
The trough line and front are likely to stall over far western NSW Tuesday and Wednesday resulting in some useful falls in the far west of the state.
Wednesday and possibly through to Thursday morning we should see the system push across the local area with most models predicting between 5mm – 15mm.
For 2018 the weather station at the Gunnedah airstrip has measured 202mm, that’s the third lowest level for Jan > Oct in 130 years, 1927 had 192mm and 1946 had 162mm for the same period. In Nov / Dec 1927 received an additional 227mm and in 1946 November and December saw 85mm of rain fall.

Grain markets across the plains were generally sideways today. New crop track wheat was flat while the feed grains continued to weaken on the back of the weather outlook.
The ASX wheat contract has also been very quiet today with the Jan20 wheat contract seeing just 100t changing hands at $366.
New crop sorghum into Tangaratta is bid at $377 landed. Compared to wheat FOT Newcastle and road freighted to the LPP feed market at $479 this represents a significant spread to sorghum from wheat.

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