Feb 20, 2023

Weekly Grain Traded CGX - 20 February

Growers getting their price - Grain is trading at grower prices across Australia - growers are getting more confident offering grain for sale at their price.
Prices continued to firm - 43 buyers purchased wheat, barley, canola, oats, lupins and lentils across QLD, NSW, VIC, SA and WA.
There is plenty of demand for Australian grain - If you have grain in warehouse, make sure you offer it - no matter what price.

43 buyer businesses purchased grain through Clear Grain Exchange (CGX) in the week before Christmas, 26 buyers purchased through CGX between Christmas and the New Year - 47 in total for the period. 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

43 buyers purchased grain on CGX - more were searching for grain
- 24 in NSW
- 16 in VIC
- 3 in QLD
- 13 in SA
- 27 in WA
641 sellers sold grain on CGX with more offering grain for sale
32 agent and/or advisory businesses sold grain on behalf of growers
60 different grades traded
6 commodities traded - wheat, barley, canola, oats, lupins, lentils
16 port zones traded across QLD, NSW, VIC, SA and WA

Growers getting their price

Grain is trading at grower target prices across Australia. International futures markets softened over the week yet Australian prices bid to growers are generally firming across most commodities, grades and locations. The price difference between the international market and grower prices has been narrowing. Yet on the whole, Australian grower prices remain below International physically traded values on an equivalent basis. That means they don't need to get cheaper to be internationally competitive. Growers and grower agents appear to be getting more confident in showing the offer side of the market rather than just using the bid side of the market to determine price. Growers are offering grain at the price they want to sell at, letting all buyers see it and try to buy it, and buyers have been willing and able to match the growers targets. The table below shows prices of grain that traded on Clear Grain Exchange last week. Often they're very different to the best published bid advertised. That's the result of a market operating more efficiently. Buyers are able to find grain offered for sale more easily, often a more suitable grade and location than they may otherwise, and are able to pass on the price benefits as a result. That's the power of growers offering grain for sale on an independent and secure exchange with no potential bias! The other thing to note is the number of grades and locations trading. There is demand for every grade in every location, so no matter what you have in warehouse, make sure you offer it for sale at the price you're happy to sell at - create demand.

Is CGX operating at your grain site?

Clear Grain Exchange operates at 27 different grain bulk handling businesses around Australia covering hundreds of storage sites.

The Grain Link storage sites atBenerembah, Carrathool, Coleambally & Wumbulgal in NSW were set up recently on Clear Grain Exchange.

This means growers delivering to Grain Link in NSW are now able to offer their grain for sale at the price they want to all buyers securely.

Check out our website to find out if you can offer grain on the exchange at your local site. If your site isn't registered on the exchange, get in touch and we can follow-up!