Jun 4, 2024

Weekly Grain Traded CGX - 03 June

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

Grain prices continued their broad strength - Demand remained robust for a wide range of grains of different quality in many port zones.
44 buyers met grower prices to purchase 39 grades - Wheat, barley, canola, lentils, lupins and sorghum traded in 14 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.

44 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

44 buyers purchased grain on CGX - more were searching for grain
16 in NSW & QLD
17 in VIC
11 in SA
19 in WA
232 sellers sold grain through CGX across 332 transactions - more were offering grain for sale
17 agent and/or advisory businesses sold grain on behalf of growers
39 different grades traded
6 commodities - Wheat, barley, canola, lentils, lupins and sorghum
14 port zones traded across QLD, NSW, VIC, SA and WA

Demand for grain remained

Australian grain prices continued their broad strength early in the week as buyers bid up to meet grower offer prices, before published bids softened at the end of the week.

Demand remained robust for a wide range of grains, with buyers seeking different qualities across various port zones.

44 buyers purchased 39 grades of wheat, barley, canola, lentils, lupins and sorghum in 14 port zones across QLD, NSW, VIC, SA and WA.

APW1 wheat traded $425/t in Esperance, $391/t Pt Kembla, $390/t Pt Adelaide, and $386/t Melbourne. ASW1 wheat was trading $412/t Kwinana, $390/t Pt Kembla, $382/t Pt Adelaide, and $374/t Portland.

Higher protein hard wheats continue to attract more value in most cases with H2 wheat trading $432/t Pt Kembla, $429/t Kwinana, $395/t Pt Adelaide, and $394/t Melbourne.

Lower grade AGP1 wheat was trading $390/t Pt Kembla, $370/t Pt Adelaide, and $366/t Melbourne as examples, while noodle wheat was trading $500/t in the west.

19 wheat grades traded in total. Login to your Clear Grain Exchange account to see more information.

Feed barley was trading $385/t Newcastle last week, $362/t Pt Kembla, $360/t Kwinana, and $343/t Geelong. Malt grades were also trading at anywhere from $10/t to $30/t premiums over the feed.

Non-GM Canola traded $800/t + oil bonifications in the west with GM canola trading $795/t + oil. Pt Adelaide traded $736/t + oil and Pt Kembla was $720/t + oil.

NIP1 lentils were trading $965/t in Portland, Lupins traded $585/t Geraldton, and SOR2 sorghum traded $328/t Brisbane.

If you have grain stored, either in warehouse or on-farm, make sure you OFFER it for sale "at the price you want" on Clear Grain Exchange or igrain respectively.

This way ALL BUYERS can see it, crunch their numbers and try to buy it.

Rather than negotiating with a few buyers over the phone or email, OFFER it for sale on an independent and secure exchange so all buyers can try and buy your grain.

It's easier, and grain is regularly trading at better prices than you may otherwise have thought were available. You set the price. You create demand for your grain!

If you need help using your CGX account, just call us. We're available anytime between 9am and 8:30pm AEST and happy to help!

You can search prices in your CGX account. Be sure to check the prices of sites in your area when offering grain for sale. There is regularly different prices bid on the same grades of grain between sites in the same zone.

There's no downside. Growers are protected at all times on CGX by remaining completely anonymous and retaining title of their grain until paid with CGX's secure settlement.

Many prices have improved in recent weeks

Chart: Traded prices on CGX are dots versus best published bid lines.

Chart: Traded prices on CGX are dots versus best published bid lines - triangles are CGX trades at other sites within the same port zone worked back using GTA location differentials to equivalent prices at the site of the chart for comparison.

A summary of what traded on CGX last week is provided in the charts and table 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.