Weekly Grain Traded CGX - 17 March

Clear Grain Exchange

Mar 17

Grain stored on-farm can now be sold on CGX

There is plenty of demand for grains - The market is trying to work out the prices it will trade - growers have a say in this.
36 buyers met grower offer prices to purchase 35 grades - Wheat, barley, canola, faba beans, lupins, peas and sorghum traded in 14 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.

27 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale. — 36 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

36 buyers purchased grain on CGX - more were searching for grain
- 3 in QLD
- 12 in NSW
- 16 in VIC
- 12 in SA
- 14 in WA
213 sellers sold grain through CGX across 271 transactions - more were offering grain for sale
13 agent and/or advisory businesses sold grain on behalf of growers
35 different grades traded
7 commodities - Wheat, barley, canola, faba beans, lupins, peas, sorghum
14 port zones traded across QLD, NSW, VIC, SA and WA

Growers impact price of grain

Buyers were active in searching for grain listed for sale across all states and jumped in to lift bids up to prices growers were offering where they could.

36 buyers purchased grain through CGX and igrainX a total of 121 buyers made 5,951 searches for grain listed for sale on the exchange.

Many growers appear to be sellers at current prices being achieved and some are cancelling offers on the exchange to sell into published or private bids. However in many cases these are at lower prices than what they had their grain offered for on the exchange, which may not be the best approach.

If you're getting bid a price equal to or better than the price you have it listed for sale on the exchange, by all means please cancel your offer and then sell it directly (NOTE: always cancel your offer before selling the same grain elsewhere).

However if you are a genuine seller at prices below the price your grain is listed for sale, edit your offer price on the exchange to your sell price before negotiating with just one or a handful of buyers.

Let all buyers see your grain at the price you are a genuine seller as this is the only way you will determine it's true value.

Buyers are actively looking for Australian grain and ready to buy it at prices they can make work. Demand for grain is not an issue. It's the price point that grain will trade which the market is trying to work out, and growers can influence that by offering grain for sale at the price they're genuine sellers.

By doing this growers will continue to encourage more buyers to try and buy Australian grain, because buyers can see it and actively bid for it.

The amount of grain to be exported from Australia this year and consumed domestically has not yet been bought by buyers from growers.

This means demand for Australian grains remains and growers have a say in the price they sell it for.

There are plenty of buyers searching for Australian grain offered for sale.

26 buyers matched grower offer prices to trade 19 grades of wheat making up 65% of all grain traded through Clear Grain Exchange (CGX) and igrainX last week.

18 buyer businesses purchased 9 grades of barley through CGX and igrainX last week making up 32% of all grain volume traded.

Canola, pulses and sorghum were also trading across Australia with buyers searching and bidding on grains they could make work.

Please refer to the tables below providing a summary of prices traded through CGX last week, or better yet, login to your online CGX account to search and view all prices.

Growers are impacting the price of Australian grain by offering grain for sale and leading bids higher.

CGX recently released the ability for growers to offer grain stored on-farm for sale to all buyers from within their CGX online account.

Grain listed for sale that's stored on-farm is protected by counterparty insurance, a diligent buyer registration process, and CGX managing invoicing and collection of funds from the buyer on the growers behalf.

The new independent and secure market for grain stored on-farm is igrainX, and a number of growers were actively offering grain stored on-farm for sale through igrainX and trading last week.

Refer to your emails for more detail regarding igrainX. Please login and have a look and/or call our support team at anytime.

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.