Summary of key issues:
- For the second week in a row rainfall in excess of 25 millimetres was recorded across a large part of eastern Australia.
- March rainfall was average to extremely high across most of the eastern Australian wheat sheep belt, which is likely to lead to increased soil moisture profiles in a number of regions.
- The rainfall forecast for the next eight days indicates there will be a broad band of rainfall from the north - east to the south - west of the country .
- Water storage levels in the Murray – Darling Basin increased this week by 32 gigalitre (GL) and are at 52 per cent of total capacity .
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$345 a tonne in the week ending 1 April 2014.
- The Queensland young cattle indicator price (330 – 400 kg l ive weight C3) increased by 1.6 per cent in the week ending 28 March 2014 to 318 cents a kilogram.
- The world sugar indicator price (In tercontinental Exchange, nearby futures, N o. 11 contract) averaged US 17.6 cents a pound in the week ending 2 April 2014.
- The Global Dairy Trade (GDT) weighted average price of anhydrous milk fat declined by 1 1.3 per cent to US$4062 a tonne on 1 April 2014.