Parker is an irrigated and dryland farming property with a total area of 1020 hectares, comprising 708 hectares of irrigation development and 60 hectares of dryland farming.

The property has 2000 megalitres of water access entitlement from Fairbairn Dam and a 1140ML water harvesting entitlement.

PrimeAg's executive chairman, Peter Corish, said Parker lies between and adjoins PrimeAg's existing properties at Emerald, Brayland and Lochiel.

"The addition of Parker now makes the Emerald hub one contiguous landholding of 4816 hectares, with 3020 hectares of irrigation development and 22,000ML of water entitlement," Mr Corish said.

"The integration of the three properties will further enhance the economies of scale on what was already the largest irrigation farm in the Emerald region."

Mr Corish said the acquisition was well timed given the positive weather conditions in our northern hub.

"Summer rains have provided excellent cropping opportunities at the Emerald hub, with Fairbairn Dam at currently 88 per cent capacity and at least two years of 100pc irrigation allocations," he said.

Winter crop outlook

PrimeAg says recent rains in southern Queensland and northern New South Wales have been timely for planting of its winter crop, which is 10,500ha of wheat and 2000ha of chickpeas.

Planting is well underway and is expected to be completed in late June.

"Timing of the rain was almost perfect, with most of the summer crops having been harvested and at the optimum time for winter cereal plantings," Mr Corish said.

"Soil moisture levels are near capacity providing an excellent start for the crop."

Mr Corish said the outlook was also improved by reduced input costs and slightly higher wheat prices.

"Growing costs are significantly below the high levels of 12 months ago with reduced costs for the key inputs of fertiliser, herbicide and fuel," he said.

"The profitability of wheat production has moved in our favour over the last six months with some gains in grain prices.

"While additional rain during the growing season is important, particularly in spring, recent weather have provided PrimeAg with a positive outlook for the 2009 winter crop."