Oct 9, 2023

Weekly Grain Traded CGX - 09 October

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

Harvest underway in the north - Offer your grain for sale this harvest rather than hitting cash bids and potentially pushing prices lower.
Buyers are searching for grain stored in warehouse and on-farm - If you have grain stored on farm, use igrain to offer it for sale to maximise its value.
If buyers can't see your grain they can't buy it - CGX and igrain enables growers to offer their grain for sale at their price to ALL BUYERS.

18 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

18 buyers purchased grain on CGX - more were searching for grain
49 sellers sold grain through CGX across 73 transactions - more were offering grain for sale
5 agent and/or advisory businesses sold grain on behalf of growers
18 different grades traded
4 commodities - wheat, barley, canola, sorghum
11 port zones traded across QLD, NSW, VIC, SA and WA

Harvest underway in the north

In recent weeks Australian grain markets have become more sporadic as harvest gets underway in the northern areas.

Domestic buyers and exporters are juggling grain on their books and buying as needed while watching progress of the new crop harvest.

The dynamic is seeing sporadic trade as buyers search for grain they need and jump into the market to try and buy the grain, and then retreat to the side lines again.

If we compare global physical values, US hard red winter wheat (similar to Australian APW1) ex the pacific northwest ports have been reportedly trading around US$288/t Free on Board (FOB) recently.

If we convert this to a delivered southeast Asia price and then work it back to Australia, it converts to approximately A$440/t FIS WA and A$410/t track eastern Australia.

Growers should understand what their grain is worth and offer it for sale to all buyers rather than selling into cash bids and potentially pushing prices lower this harvest.

Growers are able to offer 23/24 season grain for sale on the igrain market and will be able to offer 23/24 season grain for sale on Clear Grain Exchange in coming days.

Make sure all buyers can see your grain and try to buy it by having it on offer for sale on CGX or igrain, that's how you create demand for it and realise it's true value.

See what traded on CGX last week below. Wheat, barley, oats and lupin grades were trading on igrain last week on an ex-farm basis.

If buyers can't see your grain, they can't buy it! 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.