Feb 27, 2023

Weekly Grain Traded CGX - 27 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 - 39 buyers purchased wheat, barley, canola, sorghum, 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.

39 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

39 buyers purchased grain on CGX - more were searching for grain
- 15 in NSW
- 11 in VIC
- 4 in QLD
- 13 in SA
- 21 in WA
351 sellers sold grain on CGX with more offering grain for sale
23 agent and/or advisory businesses sold grain on behalf of growers
48 different grades traded
7 commodities traded - wheat, barley, canola, sorghum, oats, lupins, lentils
16 port zones traded across QLD, NSW, VIC, SA and WA

Prices flatten after recent lift

Grain prices for most commodities in Australia bounced sideways last week. Canola managed to lift.

International futures markets for cereals are trading a sideways range and have fallen to the bottom end of this range recently. This appears to be keeping demand somewhat cautious as buyers don't want to extend their cover too far forward.

This meant grain purchases were more sporadic last week than they have been in weeks prior. Buyers were being more selective on the grades and locations they could make work and were bidding aggressively when offers matched their requirements

Many growers offers have also been matched in recent weeks as buyers bidded up to secure the grain. This means many offers remaining in the market are another step higher in price than what has been trading.

Hence buyers either need to raise bids further to buy the volume or growers may adjust their target prices. We will see what comes first.

There was still plenty of grain trading last week. 39 buyers bought 48 different grades of wheat, barley, canola, sorghum, oats, lupins and lentils across QLD, NSW, VIC, SA and WA last week – more buyers were searching for grain offered for sale.

There remains strong demand for Australian grain, make sure you have your grain offered for sale on an independent exchange so all buyers can see it and try to buy it. You’re protected by anonymity and secure settlement.

Create demand for your grain! For a more comprehensive view of what traded + bids and offers in the market, simply login to your CGX account.

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 at Benerembah, 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!