Jul 3, 2023

Weekly Grain Traded CGX - 03 July

CGX acquires igrain

On Friday, CGX announced we would own and operate igrain from 1 July 2023.

igrain has been developing an online marketplace for grain with a particular focus on ex-farm and delivered market contracts. We believe the igrain market complements the CGX offering for warehoused grain.

CGX is not a buyer, seller, agent, or advisor of grain. We are a technology business with knowledge in developing and operating independent and secure exchanges.

We look forward to understanding and investing further in the igrain technology to create a more efficient market for the benefit of the entire industry.

1. Prices weaken on lead from international futures - Offshore markets moved abruptly lower seeing many growers comfortable to hold.
CGX works with Agents/Advisors/Grain Marketing Professionals - 13 agent/advisory businesses sold grain through CGX for their clients last week.
If you have grain in warehouse, offer it for sale at your target price - CGX gives growers control to set their price for their grain.

29 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

29 buyers purchased grain on CGX (41 the week prior) - more were searching for grain
- 7 in NSW
- 9 in VIC
- 7 in SA
- 11 in WA
97 sellers sold grain through CGX (432 the week prior) - more were offering grain for sale
13 agent and/or advisory businesses sold grain on behalf of growers (25 the week prior)
15 different grades traded (43 the week prior)
5 commodities - wheat, barley, oats, lupins, lentils (7 week prior)
11 port zones traded across NSW, VIC, SA and WA (16 week prior)

What went up came down

International futures prices corrected abruptly lower last week which saw bids for Australian grain pull back. Many growers had sold grain in the price rally of the week prior and so were comfortable holding their offer prices rather than chasing the market lower. This created sporadic trade on CGX last week as some buyers bid up to grower offer prices to cover positions, and some growers reduced their target prices to sell grain ahead of the new financial year. Barley grades made up the majority of grain that traded through the exchange last week with feed trading a $5/t range in most states across the week. Feed barley was trading just under $300/t FIS in Western Australia, $315/t-$320/t in Victoria and $345/t-$350/t in Port Kembla. Malt grades continue to attract premiums when trading. Reports of feed barley moving from the west to Queensland is reflecting a rapidly changing dynamic in grain markets across Australia. The predominant wheat grades of ASW1, APW1 and H2 were also trading in reasonable volume across all states and demand remained steady for the minor crops of pulses and oats. CGX gives growers control to set their price for their grain and send that price signal to the market whilst being protected by anonymity and secure settlement if their grain sells. If you have grain for sale, be sure to have it on offer to create demand for it. You set the price - don't miss any opportunities. See what traded below and login to your CGX account 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.