The drought that crept on much of the state for a ten-year run has been officially declared as over yet majority of New South Wales growers are still wary about the prospect of farming in the region.

The ten-year chain of a yearly drought in NSW has been broken this year according to the Thursday announcement of Primary Industries Minister Steve Whan, which served as an oasis for much of the farmers in the state.

NSW Farmers Association president Charles Armstrong welcomed the good news as he told AAP that the drought's coming to an end "is something we've been looking forward to for ten years and to finally get there is significant."

Still, Mr Armstrong emphasised that most of the farmers were cautiously optimistic as many parts of NSW were still marginally affected by the drought, citing that "with 10.8 per cent of the state in marginal drought, it won't take much to slip back into drought."

However, he stressed that the current status of the state, from the 99 percent drought coverage in 2003 to almost zero coverage this year is a remarkable turnaround, which the farmers could only hope would be sustained in the next few years.

For now, and even with the prospect of up to $2.85 million bumper winter crop this year, NSW farmers are facing the reverse risk of water overflowing as floods in many areas of the state threaten to deluge the promises of good yields in the months to come.

Mr Armstrong said that the prevailing situation renders many farmers on their toes, equally hoping at the same time that sufficient dry spells would occur in between to allow for enough time to harvest the crops.

After enduring financial and emotional challenges brought about by the decade-long dry spell, Mr Armstrong said that farmers were fervently praying that plans would be realised in the next few months so "farmers will be on their way out of dire circumstances."