Mar 18, 2024

Weekly Grain Traded CGX - 18 March

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

Many grain prices stabilise and/or improve - Buyers stepped up to get hold of many grades of grain last week resulting in improved prices for growers.
36 buyers met grower target prices to purchase 39 grades - Wheat, barley, canola, faba beans, lentils, and oats traded across 14 Australian 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.

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.

Grain market statistics for last week

36 buyers purchased grain on CGX - more were searching for grain
12 in NSW
7 in VIC
4 in QLD
10 in SA
20 in WA
172 sellers sold grain through CGX across 216 transactions - more were offering grain for sale
12 agent and/or advisory businesses sold grain on behalf of growers
39 different grades traded
6 commodities - wheat, barley, canola, faba beans, lentils, oats
14 port zones traded across QLD, NSW, VIC, SA and WA

Prices stabilise and improve

Prices for many grades of grain stabilised and/or improved across Australia last week with buyers stepping in to get hold of grain.

This enabled grain markets to come together with 36 buyers purchasing 39 grades of wheat, barley, canola, faba beans, lentils and oats from 172 sellers in 14 port zones across Australia last week through Clear Grain Exchange.

21 buyers purchased 13 grades of wheat ranging from higher protein milling grades through to feed grades. H2 wheat traded $380/t Kembla, $365/t Kwinana, and $342/t Pt Adelaide. H1 was still trading at significant premiums with $390/t Kwinana and $363/t Pt Adelaide trading, while Stock feed wheat traded $322/t Newcastle equivalent.

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

16 buyers purchased 9 grades of barley through Clear Grain Exchange last week. First grade feed barley was trading $335/t Kwinana and Albany, $292/t Pt Adelaide, and $284/t Portland as examples. Lower grade barley was also trading at slight discounts to feed. Commander, Maximus and Planet malt grades were fetching premiums in some instances and trading close to feed prices in others.

9 buyers purchased canola grades through CGX last week as the market seemed to be garnering some buy side demand. Buyers were generally paying better prices for ISCC certified grades (Note; growers should select the canola grade with "EU" when offering to declare they're comfortable making ISCC declarations).

ISCC declared non-GM canola was trading $700/t in Esperance, $633/t Kembla, and $623/t Melbourne + oil bonification payments as examples. While GM canola was trading $660/t Kwinana and $614/t Melbourne + oil bonification payments.

Lentils, faba beans and oats were also trading.

If you have grain in warehouse unsold it should be on offer at the price you are willing to sell it for, no matter what price that may be.

Buyers can't try to buy your grain if they can't see it, and if they can't pay the price you want now, at least they know the grain is there. By having your grain on offer it keeps buyers interested and participating in your port zone.

You're anonymous and protected by secure settlement at all times when offering grain for sale and selling through CGX. There is only upside in having your grain offered for sale.

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.