Feb 26, 2024

Weekly Grain Traded CGX - 26 February

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

Buyers searching for grain - Despite "published bids" of many grades remaining at, or near, recent lows, grain was trading at grower offer prices.
37 buyers met grower target prices to purchase 26 grades of wheat, barley, canola, lentils and oats across 14 port zones around Australia.
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.

37 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

37 buyers purchased grain on CGX - more were searching for grain
8 in NSW
6 in VIC
2 in QLD
8 in SA
18 in WA
99 sellers sold grain through CGX across 125 transactions - more were offering grain for sale
9 agent and/or advisory businesses sold grain on behalf of growers
26 different grades traded
5 commodities - wheat, barley, canola, lentils, oats
14 port zones traded across QLD, NSW, VIC, SA and WA

Buyers searching for grain

The number of buyers that purchased grain through Clear Grain Exchange last week increased week-on-week to 37 different buyer businesses.

26 grades of wheat, barley, canola, lentils and oats traded through the exchange across 14 port zones in all the major grain growing states of Australia.

That was despite best published bids of many grades and commodities decreasing significantly at the end of the week prior and remaining at or near those levels through last week.

The volume of grain that traded last week was lower than the week prior as growers were reluctant to follow bids all the way lower. Hence a bid-offer spread emerged.

However the breadth of grain that traded by grade, location and number of buyers, at prices better than published bids, may be an indicator of demand.

Buyers have appeared relatively patient while prices were falling, however plenty of buyers are actively searching, bidding, and purchasing grain offered for sale.

One thing is for sure, if your grain is not on OFFER at the price you want, it can't sell. Buyers need to see your grain to crunch their numbers and try to buy it.

Remember, you're anonymous and protected by secure settlement if your grain sells through Clear Grain Exchange, and your grain can only sell at, or above, the price you offer it for sale.

The charts below show the power of growers offering their grain for sale to create demand, with grain regularly trading at better prices than published bids indicate.

ASW1 wheat prices at GrainCorp's Mirrool site in Port Kembla zone

ASW1 wheat prices at Viterra's Tailem Bend site in Port Adelaide zone

ASW1 wheat prices in the Kwinana zone of CBH's warehouse system

The tables below provide a summary of traded prices on CGX between 19 Feb and 26 Feb.

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.