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ABARES Weekly Australian Climate, Water and Agricultural Update

Weekly Climate, Water & Agricultural Update Newsletter

Categories: Commodities, Weather

Summary of Key issues:
  • Rainfall deficiencies over the past 9 months (October 2012 to June 2013) are inflicting challenging conditions on farmers in Victoria’s southwest region. 
  • Rainfall of between 1 and 5 millimetres this week across northern and central regions of the Western Australian wheatbelt has provided little benefit for moisture stressed crops.
  • Rainfall in excess of 15 millimetres is forecast across most grain-growing regions of south-eastern Australia during the coming 8 days.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$305 a tonne in the week ending 9 July 2013, compared with US$303 in the previous week.
  • The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$542 a tonne in the week ending 9 July 2013, compared with US$573 a tonne in the previous week. 
  • The Queensland young cattle indicator price (330–400 kg live-weight C3) increased by 2 per cent in the week ending 5 July 2013 to average 311 cents a kilogram. 



Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank Limited accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank Limited ABN 74 083 938 416 AFSL 238042.