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Australia Rains Expected to Help Winter Crops

03 August 2012
The Australian Bureau of Agricultural and Resource Economics and Sciences

AUSTRALIA - In the coming week up to 20mm of rain is forecast for cropping areas of Western Australia and south east Australia. The rain should provide timely moisture for the growth of winter crops and pastures.

Continued warming in the Tropical Pacific Ocean shows a pattern typical of the development stage of an El Niño event, with climate models suggesting a return to weak El Niño conditions by the end of winter or spring 2012.

High reliability water allocations increased this week in the Victorian Murray, Goulburn, Loddon and Broken valley systems. Low reliability water allocations in the Campaspe valley increased to 18 per cent of entitlement.

The world wheat indicator price (US no. 2 hard red winter, free on board Gulf ports) fell to an average of US$366 a tonne in the week ending 31 July 2012 from US$371 a tonne in the previous week.

The world coarse grains indicator price (US no. 2 yellow corn, free on board Gulf ports) averaged US$341 a tonne for the week ending 1 August 2012, compared with US$349 a tonne in the previous week.

The world canola indicator price (Rapeseed, Europe, free on board Hamburg) also declined in the week ending 31 July 2012 to an average of US$634 a tonne, compared with US$638 a tonne in the previous week.

Further Reading

You can view the full report by clicking here.
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