Jul 24, 2023

Weekly Grain Traded CGX - 24 July

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

Grain prices push higher on buyers trying to secure grain - 40 buyers purchased 195,718t on CGX last week with more searching for grain.
Growers sold grain "above" their offer price on CGX - buyers were vigorously out bidding each other to secure grain before market open.
If you have grain in warehouse, offer it for sale at your target price - CGX and igrain gives growers control to set their price for their grain.

40 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

40 buyers purchased grain on CGX - more were searching for grain
- 13 in NSW
- 17 in VIC
- 4 in QLD
- 14 in SA
- 22 in WA
456 sellers sold grain through CGX across 646 transactions - more were offering grain for sale
20 agent and/or advisory businesses sold grain on behalf of growers
36 different grades traded
7 commodities - wheat, barley, canola, oats, lupins, lentils and peas
18 port zones traded across QLD, NSW, VIC, SA and WA

Grain prices push higher

Australian grain prices pushed higher last week across all states and commodities after Russia bombed Ukrainian grain infrastructure. Australian buyers were active in trying to secure grain which saw them push prices up to price targets growers had set to sell. On Thursday many growers sold grain "above" their offer price on Clear Grain Exchange (CGX) as buyers were vigorously bidding against each other for grain before the CGX market opened. Offers on CGX will always trade up to the highest bid. Hence your grain can never sell below the price you offer your grain for sale on CGX, however it can trade above that price. This happened in earnest on Thursday last week. Wheat and barley were the dominant commodity trading through CGX, making up 60% and 37% respectively of the 195,718 tonnes that traded through the exchange. 29 different buyers purchased 15 grades of wheat across Australia last week through CGX, 18 buyers purchased 9 grades of barley. 8 buyers purchased 8 grades of canola including ISCC certified along with off spec and GM grades. Since when did we end up with so many grades of canola? 5 buyers purchased lupins, lentils, peas and oats across the week with more buyers searching and bidding on parcels for sale. The igrain market for grain stored on-farm was also active. Feed barley, lower grades of wheat, chickpeas and lupins were trading through igrain across NSW and VIC as growers achieved their target prices. Demand remains robust across Australia for all grades and commodities. If you have 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.