Oct 14

Weekly Grain Traded CGX - 14 October

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

Growers setting up their online CGX accounts for new season grain - Growers are logging-in or calling to set-up their accounts for harvest.
26 buyers met grower offer prices to purchase 27 grades - Wheat, barley, canola, lentils, and lupins traded in 10 port zones across Australia.
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.

27 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale. — 26 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.

Market stats for last week

26 buyers purchased grain on CGX - more were searching for grain
69 sellers sold grain through CGX across 113 transactions - more were offering grain for sale
9 agent and/or advisory businesses sold grain on behalf of growers
27 different grades traded
5 commodities - Wheat, barley, canola, lentils, and lupins
10 port zones traded across NSW, VIC, SA and WA

Growers offering grain ahead of harvest

Australian growers often reference buyer bid prices on cash boards and other published bids disseminated through SMS’s, emails and other mediums as the price of their grain.

However, buyer bid prices should be considered as a guide only. Growers also have a say in the price of grain and should show buyers their “offer” or sell price.

The simple act of grain growers offering their grain for sale and showing buyers the price they want for it, regularly sees grain prices trading at stronger values than published bids.

At Clear Grain Exchange we’re seeing growers logging back into the exchange in the lead-up to harvest to set-up their online accounts for the new season crop.

Growers are adding grains they know they’ll have this year so they can monitor prices, and many are offering some grain for sale ahead of harvest to sell into any price jumps and manage cashflow.

Consensus across the Australian grain industry is that growers are less forward sold than on average for this time of year.

This is likely creating some demand and pushing Australian grain prices higher currently as buyers want to get some grain on their books.

It can also mean however that grain prices are more susceptible to downward pressure on prices at harvest, or “harvest price pressure”.

If growers sell a lot of grain quickly during harvest by hitting cash bids to generate cashflow, it may push Australian prices lower.

If growers can offer grain for sale at their sell price ahead of harvest and during harvest, it could help to support prices.

A lot of grain will be purchased from growers in coming months, and growers should realise they impact the price it will trade.

Last week 26 buyers pushed prices up to meet grower sell targets and purchase grain through CGX.

Most grades and commodities were sought after with 12 grades of wheat trading and making up 55% of all grain traded last week.

4 barley grades made up 29% of all grain traded. 9 canola grades consisting of GM and non-GM, ISCC certified and not certified grades, made up 13% of all grain trading. Lentil and lupins grades were also attracting bids high enough to meet grower target prices and trade.

By OFFERING your grain for sale at the price you believe it's worth, or the price you want for it, on CGX (warehoused grain) or igrain (on-farm grain), every buyer in the market can see it and try to buy it.

This creates demand for your grain and often it will sell at prices you didn't think were available at the time.

It's free to have your grain on offer and you can edit or cancel your offer at anytime before it trades. Plus you're anonymous and protected by best-in-class contract settlement if your grain sells.

There is no downside - only upside!

Simply login to your CGX account or call the team on 1800000410.

A summary of what traded on CGX last week is provided in the charts and tables 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.