Sep 18, 2023

Weekly Grain Traded CGX - 18 September

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

Demand for grain continued to push prices higher as the amount of grain offered for sale tightens up - 30 buyers last week with more searching.
Buyers are searching for grain stored on-farm through igrain - igrain counterparty insurance protects growers selling grain stored on-farm.
If you have grain in warehouse or stored on-farm, offer it for sale at your price - CGX and igrain enables growers to set the price for their grain.

30 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

30 buyers purchased grain on CGX - more were searching for grain
- 19 in WA
- 7 in SA
- 11 in VIC
- 7 in NSW
- 2 in QLD
198 sellers sold grain through CGX across 270 transactions - more were offering grain for sale
13 agent and/or advisory businesses sold grain on behalf of growers
33 different grades traded
4 commodities - wheat, barley, canola, lupins
10 port zones traded across QLD, NSW, VIC, SA and WA

Demand supports grain prices

The strong appetite for Australian grain continued last week despite ongoing weakness in offshore grain futures markets.

The performance of Australian grain prices has been noteworthy given Russian grain continues to be exported in earnest from that region and most international futures benchmarks remain near contract lows.

Demand for grain through Clear Grain Exchange and igrain remains stout indicated by the number of buyers searching for grain and traded prices continuing to push higher.

30 different buyers purchased grain through Clear Grain Exchange last week, but many more were searching grain offered for sale and bidding on parcels they could try and make work.

Wheat and barley made up the majority of grain trading last week at 76% and 24% respectively which directly reflects the volumes being offered. There appears to be demand for other commodities and grades however buyers can't find parcels offered for sale.

APW1 wheat traded $465/t Brisbane, $430/t Pt Kembla, $408/t Melbourne, $400/t Pt Adelaide and $425/t Kwinana.

Wheat is wheat in the drought affected north east with ASW1 and AGP1 trading APW1 equivalent prices in Brisbane at $463/t. In other areas ASW1 traded $396/t Melbourne, $392/t Pt Adelaide and $410/t in Kwinana.

16 different wheat grades traded including durum and noodle grades - demand is across all wheat grades.

Feed barley was trading $398/t Pt Kembla, $361/t Melbourne, $347/t Pt Adelaide and $390/t Kwinana as examples with 15 barley grades trading in total.

Canola and lupins also traded. See the tables below displaying traded values by port zone on Clear Grain Exchange through last week.

The igrain market traded wheat, barley, maize and lupins throughout VIC and NSW on an ex-farm basis last week. Appetite by domestic users, traders and container traders for ex-farm grain remains robust as they look for options to satisfy demand.

If you have grain in warehouse or stored on-farm and a price in mind, be sure to offer your grain for sale on CGX or igrain so all buyers can see it and try to buy it. That's how you create demand for your grain.

See what traded below on CGX and login to your CGX or igrain accounts to see more price information.

The tables below provide a summary of traded prices 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.