Record wheat prices have farmers primed to sow a crop that could help them bounce back financially after years of poor or failed harvests caused by drought, but rain is badly needed.

NSW Primary Industries Minister, Ian Macdonald, says, "Predictions are for a 5.4 million hectare winter crop comprising 4.69 million hectares of cereals and 0.71 million hectares of pulses and oilseeds.

"But the next two to three weeks will be crucial for croppers to see this size crop realised.

"The window for planting wheat will remain open for more than a month for many farmers.

"But the bare minimum we need is at least 25-50 millimetres in southern NSW and 50-75 millimetres in northern NSW.

"This would be enough to let farmers get this crop in the ground."

The latest drought figures released by the NSW Government show 48.4pc of the state is in drought, up from 42.9pc last month.

Another 23.6pc is marginal and 28pc satisfactory.

The Bureau of Meteorology's latest rainfall outlooks says, "The La Nina event in the Pacific Basin is weakening. Computer models indicate a return to neutral conditions over the outlook period of May-July."

At the southern end of the NSW grain belt there is a 50pc chance of rainfall being above-average.

The NSW Department of Primary Industries estimates 5-15pc of the forecast winter crop has so far been sown into dry soil in the hope rain will come.

Already, the NSW canola crop has been slashed by 30pc to an expected planting area of 200,000 hectares because we have not witnessed a good wet start to the sowing season.