May 8, 2023

Weekly Grain Traded CGX - 08 May

Prices generally improved last week - Prices lifted to levels many growers were targeting as 37 different buyers purchased grain through CGX.
Wheat grades dominated trade but minor crops also in demand - Improved conditions for containers is helping demand for niche grades.
If you have grain in warehouse, offer it for sale at your target price - Your grain can't sell if buyers can't see it and try to buy it!

37 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

37 buyers purchased grain on CGX - more were searching for grain
218 sellers sold grain on CGX with more offering grain for sale
13 agent and/or advisory businesses sold grain on behalf of growers
31 different grades traded
7 commodities - wheat, barley, canola, lupins, chickpeas, faba beans, oats
14 port zones traded across QLD, NSW, VIC, SA and WA

Prices improve

Grain prices across Australia generally improved last week as international futures increased due to the escalating Ukrainian/Russian conflict. The Northern Hemisphere spring has generally been ticking along with reasonable weather conditions seeing international futures grind lower, pulling local Australian values in the same direction. However renewed concerns over supply of grain out of the Black Sea region, given the heightened Ukrainian/Russian tensions, and question marks remaining over the extension of the UN backed grain corridor from the region has seen international prices pushed up. This flowed through to Australian grain values with prices lifting to reach many price targets growers had set. Wheat made up the majority of all volume traded through Clear Grain Exchange last week at 83%. The full spectrum of wheat grades were in demand from higher protein to lower grades with 16 different wheat grades in total trading around the country. Good premiums continue to be paid for protein with H1 Pt Adelaide trading $447/t as an example. Discounts to lower grades continue to tighten closer to a $0/t spread from ASW1 with Albany a good example of ASW9 to AGP1 grades all trading $350/t. Demand for barley has remained incredibly consistent with $10-$20/t over $300/t port continuing to be the sweet spot for feed barley around the country, while malt grades get strong premiums when trading. Canola and the smaller crops such as pulses and oats have improved recently particularly with better conditions in the container market helping demand for the niche commodities and grades. There are plenty of buyers that want your grain - more than 100 have bought grain through CGX this season, over 300 are registered to buy your grain. By offering your grain for sale on Clear Grain Exchange you make it easier for every buyer to see your grain and try to buy it - that's a good thing, because we want as many buyers as possible trying to buy your grain. You're protected by anonymity and secure settlement at all times. All you need to do is decide what price you want for your grain - the rest is looked after for you! Regardless of what grain you have in warehouse or whether you want to sell in the near-term or are prepared to target higher prices and potentially hold grain for longer; get it on offer so all buyers can see it and try to buy it.

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.