Farmers are holding out for some dry weather after another wet week across Victoria’s major growing regions.
Another 20-80mm of rain fell across the Mallee and Wimmera, extending through the central and western districts. Most areas have received two to three times the September average.
Farmers remain grateful, with memories of the last two drought seasons fresh. But most are looking for a break in the rain so crops can make the most of saturated soils.
The cool, wet weather is ideal for crop development. Relatively low fertiliser prices have allowed farmers to liberally top crops, giving them huge yield potential.
ABARES has raised its Australian crop estimate to 28.1 million tonnes, in line with the market. Demand will clearly be the limiting factor, so local prices will be driven by global values.
