When is it going to rain? With an early autumn break looking increasingly unlikely as March comes to an end, allocation prices have crept up. Some sales have been recorded at $320 - $350. These sales have been principally in small volumes. However there seems to be resistance around the $320 mark and good levels of support between $250 - $280.
The Greeneye Visual Trader suggests strong support at $250 and resistance at $330. What will happen if it doesn't rain - we believe the price could easily hit $350 or higher. Demand from dairy farmers could well Drop as the new milk priice hits home. As farmers recalculate their budgets they will be making decisions on feed requirements - to water or not to............
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