May 30, 2022

Weekly Grain Traded CGX - 30 May

Cautious demand as markets cool - Australian buyers stopped chasing the market higher last week while growers generally held offer prices.
6 commodities traded - Wheat, barley, canola, sorghum, lupins and oats traded across QLD, NSW, VIC, SA and WA as buyers searched grain.
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.

28 Buyers bought grain through CGX — 28 different buyers purchased grain through Clear Grain Exchange (CGX) last week as buyers stopped chasing the market higher. 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.

Market stats for last week

28 buyers purchased grain on CGX - more searching
- 16 in Eastern States
- 5 in South Australia
- 12 in Western Australia
65 sellers sold grain on CGX with more offering grain for sale
15 agent and/or advisory businesses sold grain on behalf of growers
26 different grades traded
6 commodities traded - wheat, barley, canola, sorghum, lupins, oats
13 port zones traded across QLD, NSW, VIC, SA and WA

Cautious demand as markets cool

The market cooled last week after rampaging higher recently. CBOT wheat futures grounded lower through the week before lifting Friday night. This set the tone for Australian buyers taking a more cautious approach. Rather than continuing to chase the market higher to secure tonnes, they were more selective on parcels and careful on price expectations. On the offer side of the market growers generally seemed content to hold their offer prices on grain listed for sale. Many appear to have sold some on the recent uplift and are now comfortable waiting, particularly with the new financial year around the corner. Growers and Agents were also offering their grain for sale at the recent price highs achieved, noting that they still feel Australian grain is competitive internationally at the price they're asking. Hence the Australian price hasn't moved to the same extent as the CBOT market. Where it goes from here is anyone's guess. There were still plenty of buyers looking for grain to buy. Grades of wheat, barley, canola, sorghum, lupins and oats traded across 13 port zones in Queensland, New South Wales, Victoria, South Australia and Western Australia. If you have grain to sell and a price in mind, no matter what grade it is or site it is warehoused, have it out there on offer on CGX. You're anonymous, you're protected by secure settlement if it sells, and your grain can only sell at or above the price you offer it for sale. You're in complete control. There is often more value available than the price being bid. There are also often more buyers that want your grain than you may realise.