Rabobank's Agribusiness Monthly July 2015

Posted by: Kylie Wilson

The Agribusiness Monthly provides timely information and analysis on agricultural conditions, commodity price updates and commentary on the latest sectoral trends and developments.

 

Key highlights:

• Grains & Oilseeds: Recent rain across east coast Australian cropping regions has been beneficial to crop conditions. Sub soil moisture levels have improved in many areas, and prospects of above average production in 2015/16 with late season follow up rain have increased.
• Dairy: Opening prices for southern producers averaged around AUD5.60/kgMS.
• Beef: Strong global demand and possible domestic supply shortages suggest that prices could increase further, however they may temper slightly through winter as the market considers the upcoming season.
• Sheepmeat: Lamb prices continue to follow a similar trend to 2014, with prices well above the five year average.
• Cotton:  Continued forecasts for a tightening of the world cotton balance sheet should see global prices supported through the 2nd half of 2015.

To view the full report, please click here.

E-conveyancing is (almost) here

Posted by: Valerie Chagnon-Couture

I recently attended the Property Exchange Australia (PEXA) launch event for Queensland.  PEXA will revolutionise the way that property transfer settlements take place.  Through PEXA, settlements will take place on an electronic platform and will no longer require that all parties come together in one location to exchange documents and settlement cheques.

The PEXA platform was created in collaboration with representatives from the Land Registry, Banks and Financials Institutions, The Office of State Revenue, Property Lawyers and Conveyancers as well as the Law Council of Australia and the Australian Bankers' Association.  Upon considering the large number of parties involved, it is understandable that the platform has taken some time to be finalised.

PEXA has already launched in New South Wales, Victoria and Western Australia and has received positive feedback from all parties involved.  While it has launched in Queensland, currently only settlement notices and caveats can be lodged through the platform.  The revised duties legislation is currently before Parliament and is expected to be presented at the next sitting.  Once the revised duties legislation is passed, property transfers will be able to be performed through the PEXA platform.

PEXA will allow for Titles Office documents to be signed electronically instead of passed around various parties for signatures and will allow for electronic lodgements of these documents with the Titles Office.  PEXA will also immediately transfer settlement funds electronically between financial institutions and solicitors' trust accounts removing the need for bank cheques to be drawn and delivered at settlement.

PEXA will also be launching a mobile application which clients can download to their smartphones.  This app will provide real time updates in relation to the progress of client's transactions.

Along with many other legal practitioners, we enthusiastically look forward to the launch of PEXA property transfers as the PEXA platform will allow us as a registered user to provide our clients with faster, safer and more efficient settlements and fewer disbursements in their property transactions.  Persons having an interest in this are free to contact me on 3234 3105 or valerie@anderssens.com.au.  Otherwise, watch this space for formal announcements as to the launch of the PEXA platform for property transfers.