Jan 8, 2024

Weekly Grain Traded CGX - 08 January

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

Stand-off in grain markets has emerged early in the New Year - Buyers have pulled their bids back, growers are reluctant to follow them lower.
42 buyers purchased 44 grades of wheat, barley, canola, faba beans, lentils, lupins and oats across 13 port zones through the festive period.
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.

28 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

42 buyers purchased grain on CGX - more were searching for grain
11 in NSW and QLD
8 in VIC
8 in SA
31 in WA
306 sellers sold grain through CGX across 480 transactions - more were offering grain for sale
18 agent and/or advisory businesses sold grain on behalf of growers
44 different grades traded
7 commodities - wheat, barley, canola, faba beans, lentils, lupins, oats
13 port zones traded across QLD, NSW, VIC, SA and WA

Stand-off in grain markets

A stand-off has emerged in grain markets early in the New Year.

Buyers have lowered their bid prices over recent weeks, and growers have generally been reluctant to follow them all the way lower.

The pull back in bids has been more significant in the eastern states as the drought premium that existed in northern areas has eroded given rains are generating grass growth, summer crop plantings and moisture for this year's winter crops.

Some harvest quality concerns has also seen buyers pull bids back as they assess crop quality.

WA prices were holding relative to the rest of the country but buyer bids have also pulled back more recently.

Growers are returning from the festive period and questioning the pull-back, most appear reluctant to follow it lower and are rightly creating their OFFER price so buyers can see where they would sell.

Growers have a say in the price and are now OFFERING grain for sale in volume at prices they would sell at. This provides a price signal to buyers as to what price they can buy volume.

Whilst buyers have pulled their bids back, they continue to search and look at parcels of grain offered for sale. Demand for grain remains. The amount of grain that will be exported and consumed domestically this year has not yet been bought.

If you have grain in warehouse - you can offer it for sale on CGX, no matter what grade it is or where it is - why wouldn't you?

If you have grain stored on farm - you can offer it for sale on igrain!

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 on CGX between 18 Dec and 5 Jan.

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.