Southern Queensland Harvest Ramps Up with Strong Early Yields

The early harvest in southern Queensland has shown good yields and quality, with farmers reporting above-average yields and high protein in early wheat harvesting. Warm weather is advancing grain harvesting across the region, with barley harvest gathering pace across southern Queensland and northern NSW. Initial harvest reports are showing above-average yields and good quality, with barley yields coming in at 3-5 t/ha and early wheat harvesting with crops around Thallon coming in above 13 per cent protein.

Key Takeaways:

• Barley yields in southern Queensland are coming in above average at 3-5 t/ha, with initial harvest reports showing good quality.
• Early wheat harvesting is showing high protein levels, with crops around Thallon coming in above 13 per cent.
• Farmers are reporting high protein in early wheat harvesting, with crops around Thallon coming in above 13 per cent.
• Feedlots and other feed grain buyers are buying barley from farmers as it's harvested, putting pressure on nearby values, which are being quoted as low as $285 delivered into the Darling Downs.
• Trade sellers are holding around $300 delivered into the Downs destinations for January forwards.
• Barley quality is coming in below 70 kg/hl, which is down on last year's 72 kg/hl, indicating the dry finish has trimmed yields slightly, although well above the minimum BAR1 specifications.
• Exporter wheat prices were steady to slightly firmer last week with the weaker Australian dollar offering some modest support.
• Track APW wheat bids edged higher to $315 port equivalent with APH2 above $330.
• Declining crop prospects in southeastern Australia is also starting to lend support for grain prices.
• Limited rain has fallen across southern grain crops in recent weeks, which has analysts paring back yield expectations.
• Southern wheat markets rallied by around $10 in the past week as feed grain buyers step up for November and December supplies.
• Traders are reporting that some southern crops are going backwards by the day while some areas are still holding on but the lack of soil moisture needed to finish.

Statistics:

• Barley yields: 3-5 t/ha
• High protein in early wheat harvesting: 13 per cent
• Barley quality: below 70 kg/hl
• Last year's barley quality: 72 kg/hl
• Exporter wheat prices: steady to slightly firmer
• Track APW wheat bids: $315 port equivalent
• APH2 wheat prices: above $330
• Rainfall in southern grain crops in recent weeks: limited
• Yield expectations: being pared back due to limited rain

Sources:

• AgMagazine
• The Australian Grain Industry Association (AGIC)
• Australian Broadcasting Corporation (ABC)