Soil moisture is apparently very good to excellent in most areas of east coast Australia suitable for cropping (or sheep/cattle, including dairying).
However Moree and Narrabri in northwest NSW haven't had substantial rain for a couple of months, so while I'm no agronomist, eventually graingrowers need some rain in the traditional sowing period, and/or shortly thereafter.
The thought has struck my mind that in some east coast areas, this could be the start of a drought.
If so, all other things being equal (unrealistic I know: many variables) wouldn't RIC eventually benefit from increased demand for stockfeed for ruminants in particular? Please correct me if needed as I'm an ignorant city dweller.
RIC Price at posting:
$1.98 Sentiment: Hold Disclosure: Held
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