Mar 14, 2022

Weekly Grain Traded CGX - 14 March

Trading Highlights and News

Many grain prices remained at or very near recent highs - Demand remained strong last week despite CBOT wheat softening and flooded areas.
36 buyers purchased grain, more were searching - There are often more buyers than you realise that want your grain. Offer it to all buyers with CGX.
Growers actively adjusting price targets - Growers and agents are actively editing offer prices. Remember you can edit offers at anytime and grain can only trade when the market is open (10:00-10:05am and 8:30-8:35pm AEDT).

Market stats for last week

95,518 tonnes were sold in 342 transactions on CGX open exchange
36 buyers purchased grain on CGX - more searching
- 19 buyers in the eastern states
- 10 buyers in SA
- 16 buyers in WA
259 sellers sold grain on CGX with more offering grain for sale
19 agent and/or advisory businesses sold grain on behalf of growers
38 different contract grades traded
7 commodities traded - wheat, barley, canola, oats, peas, lupins, faba beans
15 port zones traded across NSW, VIC, SA and WA

Ukraine and floods impacting demand of grain

International grain markets continued to react to the unfortunate events occurring in the Ukraine through last week with some wild swings seen in CBOT wheat futures. After consecutive limit up days during the first week of March, CBOT wheat futures ended the second week of March lower. Flooded and extremely wet areas in some parts of Australia is putting an already strained supply chain under more pressure and contributed to some buyers taking a more cautious and selective approach to accumulations last week than the week prior. In saying that, demand for grains generally remained extremely strong with 36 different buyers purchasing grain and more searching for grain on offer. CBH releasing more export capacity in the west was also received very positively by the market. Many values of grades traded last week remained at or very near recent price highs, some locations made new highs! Many grower offers are now either above those price highs or sitting on the side-lines all together after the recent significant volatility. There are often many more buyers than you may realise that want your grain. Offer it for sale at the price you want to all buyers on CGX and create demand for your grain.