But mother nature being a fickle mistress, farming groups are unwilling to call the end of nearly a decade of drought.

The soaking rains were too late to help the last year winter harvests of cereals and wheat, which were harvested just before the rains came. However, it is hoped a build-up in sub-soil moisture will provide a good base for the next winter crop, which will be planted around April.

A healthy start is now assured for the main summer crop of grain sorghum, mainly used as stock feed for cattle, pigs and poultry.

''What that will do is generate additional cash flow income for those farmers, some of whom didn't get as good winter cereal crops,'' said David Ginn, the corporate affairs manager of the ASX-listed grain handler Graincorp. Many farmers would sow a second crop of sorghum this summer, thanks to the rain. ''Any rain like this is extremely good news for the grains industry.''

The president of the National Farmers Federation, Ben Fargher, said the downside to the rain had been flooding in some areas.

''Whenever there is flooding there are always some infrastructure losses, fences and livestock, and challenges for those particular producers. But more broadly it's obviously positive to get water in those systems.''

There had been less flooding than expected, he said. ''The flooding we thought we might get in some places has not eventuated because the ground is like a sponge.''

Farming makes up 3 per cent of gross domestic product. Including activity higher up the value chain which depends on farming products, such as food processing and manufacturing, it makes up and even bigger 12 per cent.

About 330,000 people were employed directly in farming, Mr Fargher said, and 1.6 million if those jobs higher up the value chain are included.

The key question was how much rain would fall in the first three months of the year.

''It's just too early to tell from one rain event. A lot can happen between now and then.''

However, for now the biggest benefit to farmers was less tangible. ''We have taken a big hit obviously with the drought which has been going on for seven or nine years in some areas. These rainfall events will lift confidence in the sector.''

Mr Ginn of Graincorp said the rain had already produced one important by-product: smiles on people's faces. ''We haven't seen green grass for a long time.''