Nov 6, 2023

Weekly Grain Traded CGX - 06 November

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

Buyer interest in grain builds - 25 buyers bought grain through CGX last week with many more searching for grain offered for sale.
OFFER your grain at the price you want - Buyers want Australian grain, offer grain for sale at a price rather than pushing prices lower this harvest.
CGX and igrain enable growers to offer grain for sale - Growers delivering to warehouse can offer grain for sale on CGX that has been delivered or will be delivered in future months. Growers storing grain on-farm can offer grain for sale on igrain and determine pickup/delivery timeframes.

25 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

25 buyers purchased grain on CGX - more were searching for grain
85 sellers sold grain through CGX across 107 transactions - more were offering grain for sale
7 agent and/or advisory businesses sold grain on behalf of growers
16 different grades traded
5 commodities - wheat, barley, canola, lupins, oats
10 port zones traded across QLD, NSW, VIC, SA and WA

Buyer interest in grain builds

25 buyers bought grain on Clear Grain Exchange last week, with many of the 300 plus registered buyers searching grain offered for sale that they can make work.

Buyers seem to be growing more comfortable with early harvest quality and are looking to be active buyers to cover their requirements.

Some growers are well into their harvest programs whilst others are just starting, sellers appear more comfortable offering their remaining 2022/23 season or new season 2023/24 grain.

Prices traded on the Clear Grain Exchange moved higher in some locations last week as buyers increased their bid prices, matching offers or bidding at prices they can make work.

Cash prices for some grades at delivery sites where harvest is progressing remained steady or continued to fall as growers sell into cash bids advertised when they deliver.

Australian grain remains competitive into international markets and this means it does not need to get cheaper out of the southern export states to win export business.

Growers have a say in the price of grain this harvest and by offering grain for sale rather than hitting a cash bid they can unlock value in their grain.

As an example, 2023/24 season H1 wheat traded $450/t Kwinana last week with the best published bid on the day as collected by independent analyst Profarmer at $422/t.

If the grower had not offered their grain for sale at $450 they may never have known a buyer was willing to pay that price for new season H1 wheat!

2023/24 season oats traded $452 in Kwinana compared to a best published bid of $436 as another example.

2022/23 season grain is also attracting strong buyer interest with ASW9 wheat trading $400/t in Kwinana and Albany port and BAR1 barley trading $325/t in Melbourne.

Buyers are also actively searching for grain offered for sale stored on-farm on the igrain market.

Wheat, barley, milling oats, narrow leaf lupins and feed maize all traded on igrain last week on an ex-farm basis through VIC, NSW and SA.

See what traded on CGX last week below or 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.