Jun 11, 2024

Weekly Grain Traded CGX - 10 June

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

Many bid prices for Australian grain weakened last week - International futures softened on the back of some harvest pressure on prices.
35 buyers met grower prices to purchase 27 grades - Wheat, barley, canola, lentils, lupins and oats traded in 10 port zones.
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.

35 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

35 buyers purchased grain on CGX - more were searching for grain
3 in NSW
14 in VIC
10 in SA
15 in WA
109 sellers sold grain through CGX across 163 transactions - more were offering grain for sale
9 agent and/or advisory businesses sold grain on behalf of growers
27 different grades traded
6 commodities - Wheat, barley, canola, lentils, lupins and oats
10 port zones traded across NSW, VIC, SA and WA

Many bid prices pull back

Many bid prices for Australian grain weakened last week taking a lead from international futures which softened on the back of some harvest pressure.

Harvest of the winter wheat crop is underway in some parts of the northern hemisphere which is providing some near term supply side relief to markets.

Good conditions for the US corn crop, which is emerging from planting, is also being cited as a reason for off-shore price weakness.

Estimates of the Russian crop however continue to be reduced and remains a supporting factor to international grain values.

Some improved weather in parts of Australia may also have been a reason impacting the price buyers were willing to bid last week.

Bid price falls appeared to be more pronounced in the eastern states than southern and western Australia, although falls did vary considerably pending on grade and location.

Growers seemed relatively reluctant to adjust offer prices last week given many had sold grain on the recent uplift and were comfortable being patient rather than following bids lower.

Hence the bid-offer spread widened in many parts of the country for many grades.

However, specific grades in specific locations continued to demand strong engagement from the buy side.

High protein wheat grades continued to attract strong interest and trade at better prices than published bids may indicate. Feed barley in Melbourne and noodle wheats in the west are other examples, there are plenty more.

35 buyers purchased 27 grades of wheat, barley, canola, lentils, lupins and oats in 10 port zones across NSW, VIC, SA and WA.

Simply login to your CGX account to view all prices and determine what you think your grain is worth. If you need help using your CGX account, just call us. We're available anytime between 9am and 8:30pm AEST and happy to help!

It's easy, and grain is regularly trading at better prices than you may otherwise have thought were available. You set the price. You create demand for your grain!

There's no downside. Growers are protected at all times on CGX by remaining completely anonymous and retaining title of their grain until paid with CGX's secure settlement.

Many prices have improved in recent weeks

Chart: Traded prices on CGX are dots versus best published bid lines.

Chart: Traded prices on CGX are dots versus best published bid lines - triangles are CGX trades at other sites within the same port zone worked back using GTA location differentials to equivalent prices at the site of the chart for comparison.

A summary of what traded on CGX last week is provided in the charts and table below. See more prices of what traded by logging in to your CGX or igrain accounts.

The tables below provide a summary of traded prices on CGX 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.