Oct 2, 2023

Weekly Grain Traded CGX - 02 October

CGX now own and operate the igrain market for grain stored on-farm

Sporadic grain market as harvest nears - Less grain is now available for sale and buyers are observing weather and the impending harvest.
Buyers are searching for grain stored in warehouse and on-farm - If you have grain stored on farm, use igrain to offer it for sale to maximise its value.
If buyers can't see your grain they can't buy it - CGX and igrain enables growers to offer their grain for sale at their price to ALL BUYERS.

23 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale. — 20 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale.

When your grain is offered for sale on CGX all buyers can see it and try to purchase it.

Grain market statistics for last week

20 buyers purchased grain on CGX - more were searching for grain
- 10 in WA
- 5 in SA
- 5 in VIC
- 4 in NSW & QLD
51 sellers sold grain through CGX across 90 transactions - more were offering grain for sale
6 agent and/or advisory businesses sold grain on behalf of growers
20 different grades traded
7 commodities - wheat, barley, canola, faba beans, lentils, lupins, oats
11 port zones traded across QLD, NSW, VIC, SA and WA

Sporadic market as harvest nears

Australian grain markets have become more sporadic with less grain offered for sale and buyers observing weather and the impending harvest.

Growers have typically already sold the majority of their crop, and buyers are reluctant to push prices higher to attract more grain given the lift in Australian prices over the past month or so, a weaker lead from CBOT wheat, and the Australian harvest not far away.

Domestic buyers are juggling how much grain they have on the books, versus their requirements, versus the timing of the new crop harvest. Hence many are only wanting to buy as they need and then participate in the coming harvest. Exporters are in a similar frame of mind.

In saying that, a number of buyers are still needing grain in the near term and jumping into the market to engage offers.

ASW1 wheat in WA was an example of that last week with a number of buyers pushing prices to trade at $410/t Kwinana last week with significant volume trading. There were plenty of other examples - refer tables with trades below.

20 different buyers purchased 20 different grades of wheat, barley, canola, faba beans, lentils, lupins and oats across 11 port zones around Australia. More buyers were searching for grain offered for sale.

It has been similar in the igrain market for ex-farm grain. Buyers are searching grain offered for sale and engaging with a bid or purchasing parcels that work for them.

Higher protein milling wheat, feed wheat, feed barley and lupins traded through igrain in NSW and VIC with higher prices in northern areas compared with the south given the dry conditions.

If you have grain in warehouse or stored on-farm and a price in mind, be sure to offer your grain for sale on CGX or igrain so all buyers can see it and try to buy it. That's how you create demand for your grain particularly when demand is sporadic.

If buyers can't see your grain, they can't buy it!

See what traded below on CGX and login to your CGX or igrain accounts to see more price information.

The tables below provide a summary of traded prices 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.