Aug 14, 2023

Weekly Grain Traded CGX - 14 August

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

Demand for all Australian grain was strong - 447 sellers sold 221,314t of 42 grades to 43 buyers through CGX last week as prices lifted.
If you use an agent they can access CGX on your behalf - 21 agent and/or advisory businesses sold grain on behalf of growers through CGX.
If you have grain in warehouse or stored on-farm, offer it for sale at your price - CGX and igrain enables growers to set the price for their grain.

43 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

43 buyers purchased grain on CGX - more were searching for grain
- 21 in VIC
- 15 in NSW
- 5 in QLD
- 12 in SA
- 18 in WA
447 sellers sold grain through CGX across 677 transactions - more were offering grain for sale
21 agent and/or advisory businesses sold grain on behalf of growers
42 different grades traded
8 commodities - wheat, barley, canola, oats, sorghum, lentils, peas, faba beans
17 port zones traded across QLD, NSW, VIC, SA and WA

Demand strong for all grains

Demand for Australian grain remained strong last week with 43 different buyers pushing prices up to match grower target prices across 17 port zones in Queensland, New South Wales, Victoria, South Australia and Western Australia. 447 sellers sold 221,314 tonnes across 42 grades of wheat, barley, canola, oats, sorghum, lentils, peas and faba beans through Clear Grain Exchange last week highlighting the breadth of demand. There was demand for almost all grades in almost all port zones across Australia. The strong demand is in contrast to international grain futures which remain near contract lows. It appears to be driven by international buyers returning in earnest to secure Australian grain in recent weeks. The export pipeline out of Australia into the back-end of this year now appears to be filling up which has had a flow-on effect to domestic consumers who have also had to secure supply. Forecasts for the Australian 23/24 harvest remain patchy with many areas likely to produce less than recent years particularly in northern NSW and QLD where the Darling Downs has been trading a drought market and importing grain in recent months. These price spreads are evident between port zones in the CGX market but also between ex-farm locations in the igrain market. Wheat, barley, lupins and triticale stored on farm were trading through igrain last week. BAR1 grade barley was trading $300/t ex-farm in Keith SA versus $340/t ex-farm in West Wyalong NSW as an example. There were plenty of buyers searching for ex-farm grain offered for sale on igrain through last week. Demand remains robust across Australia for all grades and commodities. If you have a price in mind be sure to offer your grain for sale on CGX or igrain so all buyers can see it and try to buy it. That's how you create demand for your grain. See what traded below on CGX and 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.