Apr 29, 2024

Weekly Grain Traded CGX - 29 April

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

Prices supported by robust demand - Buyers continued to actively search and bid for grain at prices regularly better than advertised published bids.
55 buyers met grower prices to purchase 46 grades - Wheat, barley, canola, faba beans, lentils, lupins, and oats traded in 14 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.

55 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

55 buyers purchased grain on CGX - more were searching for grain
21 in NSW
25 in VIC
12 in SA
21 in WA
382 sellers sold grain through CGX across 518 transactions - more were offering grain for sale
17 agent and/or advisory businesses sold grain on behalf of growers
46 different grades traded
7 commodities - wheat, barley, canola, faba beans, lentils, lupins, oats
14 port zones traded across NSW, VIC, SA and WA

55 buyers last week, more searching

Robust demand for Australian grain continued to create support for prices through last week with another record 55 buyers purchasing grain through CGX.

Buyers continued to be actively searching for grain and placing bids at prices they could make work which were often better than advertised published bids.

In addition to the 55 buyers that bought grain through the exchange last week, there were another 64 buyers searching for grain on the exchange.

Buyers made over 10,000 searches for grain on CGX just last week!

The improved appetite for grain seems to be driven by uncertainty in crop conditions both in major producing countries overseas and in many parts of Australia.

This has seen end-users both offshore and domestically looking to secure more of their grain requirements.

Interestingly published bids for many wheat grades weakened through the middle of the week before regaining the lost ground, and traded prices on CGX didn't appear to have moved lower with the bids.

Anecdotally there appears to be a general lift in "private" bid activity, where buyers are bidding prices direct to growers on the proviso that it's not shared.

Private bids are a method of securing grain and can also be an indicator of the improved buyer appetite. If other buyers were aware of the private bid, they would know the price they need to be at or above to buy grain.

If you have grain in warehouse, be sure to offer it at the price you want on CGX (or if your grain is stored on-farm, use igrain!).

Put your price on your grain and let ALL BUYERS see it and try to buy it.

There's no downside. Growers are protected at all times on CGX by remaining completely anonymous and retaining title of their grain until paid with CGX's secure settlement.

Growers are impacting demand and prices directly by actively offering their grain for sale at the price they will sell it for.

Many prices have improved in recent weeks

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

Chart: Traded prices on CGX are dots versus best published bid lines - triangles are CGX trades at other sites within the same port zone worked back using GTA location differentials to equivalent prices at the site of the chart for comparison.

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.