Jun 6, 2023

Weekly Grain Traded CGX - 05 June

Offshore volatility and rain impacting Australian prices - demand remains for Aussie grain with prices broadly sideways but volatile
Growers targeting higher values - many growers are holding out for higher prices with buyers struggling to get there last week
If you have grain in warehouse, offer it for sale no matter your target price - let buyers see your grain, crunch their numbers and try to buy it!

36 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

36 buyers purchased grain on CGX - more were searching for grain
- 12 in NSW & QLD
- 9 in VIC
- 10 in SA
- 19 in WA
149 sellers sold grain on CGX with more offering grain for sale
14 agent and/or advisory businesses sold grain on behalf of growers
29 different grades traded
7 commodities - wheat, barley, canola, sorghum, oats, lupins, lentils, faba beans
15 port zones traded across QLD, NSW, VIC, SA and WA

Australian grain prices impacted by rain and offshore volatility

Volatility in offshore futures markets remain with plenty of factors impacting supply outlooks during the northern hemisphere spring.

Forecasts are for global wheat stocks to remain tight and supply from the Black Sea region remains dependent on the conflict there with Russia holding up vessels into Ukraine.

Supply of spring crops such as corn are expected to increase and provide some balance sheet relief to the global grain complex, however favourable weather is needed for this to eventuate.

Locally demand for grain remains relatively strong with buyers actively searching and bidding for grain on Clear Grain Exchange.

Demand had lifted prices the week prior which saw many grower price targets met and trade volumes increase across all grains.

This past week buyers were struggling to lift prices further and growers were typically satisfied to hold their sales price targets at higher levels. Volume continues to trade with prices relatively flat as a general comment.

Some reasonable rains through much of western and southern Australia is providing some moisture relief however northern NSW remains dryer than preferred.

If you are currently holding grain, now may be a good time to engage the market by offering on CGX. Even if your target price is well above recent trades or published bids your offer will attract buyers who are searching offers for the grain they require.

If you have a price in mind, offer it on the exchange and let all buyers see it, crunch their numbers and try to buy it.

If you are waiting for the new financial year, CGX has options to defer your payment or offer your grain for sale in a future delivery period.

Create demand for your grain by offering it for sale on CGX.

Do you want to sell but defer delivery and payment? Check our article to learn more.

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.