Oct 21

Weekly Grain Traded CGX - 21 October

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

Firm bids on CGX above highest bids on cash boards - There is often more value for your grain than you may realise - please check!
24 buyers met grower offer prices to purchase 19 grades - Wheat, barley and canola traded in 11 port zones across QLD, NSW, VIC, SA and WA.
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. — 24 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

24 buyers purchased grain on CGX - more were searching for grain
52 sellers sold grain through CGX across 67 transactions - more were offering grain for sale
5 agent and/or advisory businesses sold grain on behalf of growers
19 different grades traded
3 commodities - Wheat, barley, and canola
11 port zones traded across QLD, NSW, VIC, SA and WA

Bids on CGX exceed cash boards

New season harvest is underway, albeit that it's being disrupted by rain in many parts of Australia.

This is likely continuing to underpin some demand for grains given industry consensus that growers are less forward sold than on average for this time of year.

We saw this with strong FIRM bids for grain in Clear Grain Exchange (CGX) over and above published bids on cash boards, particularly through Queensland.

BAR1 barley and a number of wheat grades were well bid above the best cash bids last week.

For example, 24/25 BAR1 barley traded volume $9/t above the best cash bid of the day at Thallon GrainCorp in Queensland last week - there were more examples.

Growers should take note of these. There is regularly more value for your grain than the highest bid on cash boards.

Firm bids on CGX, that growers can sell into if wanting to sell, were consistently above the highest bid on cash boards last week.

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!

Australian growers often reference buyer bid prices on cash boards and other published bids disseminated through SMS’s, emails and other mediums as the price of their grain.

However, buyer bid prices should be considered as a guide only. Growers also have a say in the price of grain and should show buyers their OFFER or sell price.

The simple act of grain growers offering their grain for sale and showing buyers the price they want for it, regularly sees grain prices trading at stronger values than published bids.

At Clear Grain Exchange we’re seeing growers logging back into the exchange in the lead-up to harvest to set-up their online accounts for the new season crop.

Growers are adding grains they know they’ll have this year so they can monitor prices, and many are offering some grain for sale ahead of harvest to sell into any price jumps and manage cashflow.

If growers sell a lot of grain quickly during harvest by hitting cash bids to generate cashflow, it may push Australian prices lower and cause "harvest price pressure".

If growers can offer grain for sale at their sell price ahead of harvest and during harvest, it could help to support prices.

A lot of grain will be purchased from growers in coming months, and growers should realise they impact the price it will trade.

Last week 24 buyers pushed prices up to meet grower sell targets and purchase grain through CGX.

Simply login to your CGX account or call the team on 1800000410.

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.