Weekly Grain Traded CGX - 02 December
CGX now own and operate the igrain market for grain stored on-farm
Growers getting active in asking for grain prices - Rain disruptions has seen growers prepared to offer grain for sale at the prices they want.
29 buyers met grower offer prices to purchase 31 grades - Wheat, barley, chickpeas, faba beans, lentils, oats and peas traded in 13 port zones.
CGX and igrain enable growers to offer grain for sale - Growers delivering to warehouse can offer grain for sale on CGX. Growers with grain on-farm can offer grain for sale on igrain and determine pickup/delivery timeframes.
When your grain is offered for sale on CGX all buyers can see it and try to purchase it.
Market stats for last week
29 buyers purchased grain on CGX - more were searching for grain
3 in QLD
8 in NSW
6 in VIC
9 in SA
14 in WA
208 sellers sold grain through CGX across 270 transactions - more were offering grain for sale
15 agent and/or advisory businesses sold grain on behalf of growers
31 different grades traded
7 commodities - Wheat, barley, chickpeas, faba beans, lentils, oats, peas
13 port zones traded across QLD, NSW, VIC, SA and WA
Growers actively asking for prices
Rain disruptions through many parts of Australia during harvest are seeing growers focused on harvesting as much as possible as quickly as possible.
This has generally seen less appetite to sell grain while focussed on harvest, but when wet weather has stopped harvest, growers appear to be reflecting on prices and prepared to offer grain for sale at the prices they want.
In the eastern states there seems to be a general grower consensus in wanting more than current markets are bidding for wheat, and many other commodities such as canola after recent downward price movements.
Growers are getting more active in offering their grain for sale on Clear Grain Exchange and igrain at prices they would sell for to show all buyers.
Western Australian growers continued to see pockets of demand for wheat pushing traded prices well above published bids, and growers in eastern Australia appear to be noticing the higher prices trading in WA and wanting more for their grain.
Quality of the harvest has seen many grades of grain eventuate. Growers with downgraded and off-spec grades are actively offering those for sale at prices closer to ASW1 and yielding results. FED1 wheat in WA was trading $350/t as an example.
Better quality milling wheat grades are attracting premiums to other grades currently and the opportunity for growers with those is to offer it for sale at higher prices to see where demand may push those prices up to.
Growers have been relatively active in engaging the market with their barley grades and last week was no exception.
Feed barley was trading $332/t Kwinana, $307/t port Track Melbourne and Pt Kembla, and $299/t Brisbane.
Malt grades are fetching better prices than feed and growers are using the exchange to offer those for sale at higher prices while demand is strong similar to the higher protein wheat grades.
Pulse crops are also attracting demand and growers are finding offering those for sale is an easy and fruitful way to establish a price and sell those grades. Lentils, faba beans, chickpeas and peas were all trading.
Oats were also continuing to attract demand.
There are plenty of buyers that want Australian grain and growers have a say in the price that grain trades.
A total of 120 buyers made 6330 searches for grain listed for sale on Clear Grain Exchange (CGX) just last week.
Growers have the power to offer grain for sale at a price and create value for their grain.
There is often more value available for your grain than cash prices at site and the team has been doing their best at keeping growers informed via sms and reaching out via phone.
Growers can offer their grain up for sale at a price, and/or check Clear Grain Exchange (CGX) which has had firm bids that growers can sell into above cash at site prices.
Other advantages of selling into a firm bid on CGX is that you retain title of your grain until paid, you're paid within 7 business days, and you're anonymous!
The more grain that is offered for sale by growers, the bigger the influence growers can have on prices this harvest. They can show buyers where they're a seller.
Some growers are offering grain for December and/or January delivery to help give themselves time but still take advantage of any price jumps.
Growers offering grain for sale at a price, rather than selling into cash prices at site, are likely to help stabilise prices rather than see downward harvest pressure.
Make sure you check Clear Grain Exchange if selling to ensure you don't undervalue your grain, either login or call the team anytime for help.
If you don't like bid prices, simply list it for sale at the price you want so all buyers can see it and try to buy it!
A summary of what traded on CGX last week is provided in the charts and tables below. See more prices of what traded by logging in to your CGX or igrain accounts.
The tables below provide a summary of traded prices on CGX last week
Note: GTA location differentials are used to convert prices to a port equivalent price, actual freight rates can differ particularly in the eastern states. You can offer any grade for sale to create demand.
The charts below provide a summary of grain traded last week
CGX now own and operate the igrain market for grain stored on-farm
If you have any queries, we're always here to help!
Please give us a call or email if you have any questions.
Call 1800 000 410 or Email support@cgx.com.au
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