Seeding is underway but confidence is mixed according to Bendigo Bank’s Cropping Update.

Queensland, northern NSW and southern WA are tracking well with good soil moisture and strong sowing progress. In contrast, SA is critically dry and confidence is slipping on the rain-free outlook for the rest of the month. Soil moisture across Victoria and southern NSW ranges from average to below average, with moisture deficits deepening and rainfall needed to support crop emergence.

Wheat prices eased slightly over the month. Queensland and NSW fell 2% as northern consumers are mostly covered into July. Victoria and SA prices held firm, supported by domestic feed demand and tightening supply.