Jun 27, 2022

Weekly Grain Traded CGX - 27 June

Bids pull back, offers hold - Australian buyers were generally reducing their price ideas for most grains last week.
Sporadic trade activity - Grain on offer was creating demand as buyers either bid on or purchased grain they could make work.
Do you have grain in warehouse? Offer it for sale at the price you want to all buyers. It's easy, secure and you're completely anonymous.

Graph- 19 buyers traded grain on CGX — 19 different buyers 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 stats for last week

19 buyers purchased grain on CGX - more searching
54 sellers sold grain on CGX with more offering grain for sale
9 agent and/or advisory businesses sold grain on behalf of growers
18 different grades traded
6 commodities traded - wheat, barley, canola, sorghum, lupins, oats
9 port zones traded across QLD, NSW, VIC, SA and WA

Bids pull back - offers hold

Weakness in CBOT futures ahead of an impending northern hemisphere harvest saw Australian buyers taking a cautious approach to purchasing grain last week. Buyers were generally reducing their price ideas and many were happy to sit on the side-lines feeling relatively covered for the time being. Growers also seemed somewhat content to be patient and hold their price targets noting prices have been volatile and internal Australian grain prices still make Australian grain very competitive on the world market. The result was sporadic trade activity last week as buyers that needed more grain jumped in and bought grain on offer then retreated to the side lines again. Many buyers were also placing firm bids against grain parcels on offer showing the price they felt it was worth on the day which was often much better than published bids. Some growers that wanted to sell more were matching those bids whilst others were happy to hold at their targets. In all cases, the offer was doing it's job and creating demand by attracting buyers to try and buy their grain and give growers a better reflection of the real value of their grain in that day's market. APW1 wheat traded $490/t in Kwinana, ASW1 $430 Kwinana and $436 Melbourne, SFW1 $439 Geelong and $406 Port Kembla. Feed barley traded $428 Geelong and Port Adelaide, while lupins and oats traded $347/t and $350/t respectively in the west. Sometimes demand can be unpredictable. If you have grain in warehouse and a price in mind, make sure you've offered it for sale at the price you're targeting. There are often more buyers than you realise trying to purchase grain. Make sure you give all of them the opportunity to buy your grain. You're protected at all times with anonymity and secure settlement.