Mar 25, 2024

Weekly Grain Traded CGX - 25 March

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

Demand for grain intensifies - More buyers stepped in to bid over each other and get hold of grain last week, particularly wheat, barley and canola.
46 buyers met grower target prices to purchase 48 grades - Wheat, barley, canola, lentils and oats traded across 12 Australian 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.

46 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

46 buyers purchased grain on CGX - more were searching for grain
16 in NSW
18 in VIC
10 in SA
22 in WA
263 sellers sold grain through CGX across 374 transactions - more were offering grain for sale
12 agent and/or advisory businesses sold grain on behalf of growers
48 different grades traded
5 commodities - wheat, barley, canola, lentils, oats
12 port zones traded across NSW, VIC, SA and WA

Appetite for grain intensifies

Demand for grain continued to improve last week as more buyers stepped in to try and buy various grades.

The lift in demand flowed through to prices increasing for many commodities across many locations.

46 different buyer businesses purchased 48 grades of wheat, barley, canola, lentils and oats in 12 port zones around Australia, with more buyers searching to buy grain offered for sale.

There was a broad spectrum of buyers including both bulk and container exporters, domestic users stepping back in to cover requirements, and domestic and international traders.

Demand was relatively evenly spread across the major commodities with wheat making up 36% of all grain traded through CGX last week, barley and canola made up 31% respectively, and the balance was lentils and oats.

27 buyers purchased 17 grades of wheat with some price spreads still evident between the higher priced milling and niche grades (such as noodle) compared with feed grades (refer to tables with traded prices below).

21 buyers purchased 9 grades of barley with more buyers looking. Better prices for malt grades over feed were still being achieved.

11 buyers purchased canola through Clear Grain Exchange last week with ISCC declared grades ("EU" grades in CGX) at times attracting better prices than canola without the declaration. However this wasn't the case all of the time which may imply some demand is for destinations other than the EU.

Chart: Traded prices on CGX are dots versus best published bid lines.

Chart: Traded prices on CGX are dots versus best published bid lines.

If you have grain in warehouse unsold it should be on offer at the price you are willing to sell it for, no matter what price that may be.

Buyers can't try to buy your grain if they can't see it, and if they can't pay the price you want now, at least they know the grain is there. By having your grain on offer it keeps buyers interested and participating in your port zone.

You're anonymous and protected by secure settlement at all times when offering grain for sale and selling through CGX. There is only upside in having your grain offered for sale.

A summary of what traded on CGX last week is provided in the charts and table 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.