Nov 18

Weekly Grain Traded CGX - 18 November

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

Demand for grain and growers offering their grain for sale at a price is supporting prices - Prices of some grades are lifting.
28 buyers met grower offer prices to purchase 29 grades - Wheat, barley, canola, lentils, lupins, and oats traded in 16 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. — 28 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

28 buyers purchased grain on CGX - more were searching for grain
- 4 in QLD
- 10 in NSW
- 9 in VIC
- 8 in SA
- 13 in WA
125 sellers sold grain through CGX across 160 transactions - more were offering grain for sale
10 agent and/or advisory businesses sold grain on behalf of growers
29 different grades traded
6 commodities - Wheat, barley, canola, lentils, lupins, oats
16 port zones traded across QLD, NSW, VIC, SA and WA

Grain demand supporting prices

28 different buyers purchased 29 grades of wheat, barley, canola, lentils, lupins, and oats across 16 port zones around Australia last week.

A total of 110 buyers made 5,108 searches for grain listed for sale on Clear Grain Exchange (CGX) through the week indicating demand remains as harvest progresses.

Prices of grain being bid and trading at specific storage sites can vary on an equivalent basis reflecting buyer preferences for specific grain at those sites.

For example, buyers may have better accessibility to specific grades at some sites and can reflect this by bidding higher prices than at other surrounding sites.

We are also seeing differences between prices of current new crop (being harvested) and prices of old crop grain (that has been stored) - refer tables below.

This can often reflect the higher storage costs buyers incur when purchasing and carrying old season grain.

However at times buyers are wanting grain for prompt use and so the price differentiation between old and new season grain can be minimal.

Many growers appear to be recognising this and are often using new season grain prices to help determine the price they want for old season grain.

Equally growers are often referencing prices at other storage sites around where their grain is being stored to give them a better overall picture of what their grain may be worth when offering it for sale.

There have regularly been stronger firm bids on CGX that growers can sell into above cash prices advertised at sites.

New crop is trading through CGX as harvest progresses.

There is often more value available for your grain than cash prices at site and the team has been doing their best at keeping growers informed via sms and reaching out via phone.

Growers can offer their grain up for sale at a price, and/or check Clear Grain Exchange (CGX) which has had firm bids that growers can sell into above cash at site prices.

Other advantages of selling into a firm bid on CGX is that you retain title of your grain until paid, you're paid within 7 business days, and you're anonymous!

The more grain that is offered for sale by growers, the bigger the influence growers can have on prices this harvest. They can show buyers where they're a seller.

Some growers are offering grain for November, December and/or January delivery to help give themselves time but still take advantage of any price jumps.

Growers offering grain for sale at a price, rather than selling into cash prices at site, are likely to help stabilise prices rather than see downward harvest pressure.

Make sure you check Clear Grain Exchange if selling to make sure you don't undervalue your grain, either login or call the team anytime for help.

If you don't like bid prices, simply list it for sale at the price you want so all buyers can see it and try to buy it!

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.

24/25 Season

New crop is trading through CGX with growers offering grain for sale as harvest progresses.