Jul 31, 2023

Weekly Grain Traded CGX - 31 July

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

Demand remains strong in a volatile grain market - 30 buyers purchased 115,179t on CGX last week with more searching for grain.
Growers sold grain "above" their offer price on CGX - buyers were vigorously out bidding each other to secure grain before market open.
If you have grain in warehouse, offer it for sale at your target price - CGX and igrain gives growers control to set their price for their grain.

30 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

30 buyers purchased grain on CGX - more were searching for grain
- 9 in NSW & QLD
- 10 in VIC
- 8 in SA
- 20 in WA
274 sellers sold grain through CGX across 340 transactions - more were offering grain for sale
13 agent and/or advisory businesses sold grain on behalf of growers
26 different grades traded
5 commodities - wheat, barley, canola, oats, lupins
15 port zones traded across QLD, NSW, VIC, SA and WA

Demand remains in volatile market

Many Australian grain prices managed to make further gains last week. 26 grades of wheat, barley, canola, lupins and oats traded across Queensland, New South Wales, Victoria, South Australia and Western Australia through Clear Grain Exchange (CGX) with many trading at higher values than the previous week. International futures markets remain volatile with the increased aggression from Russia seeing more bombings on Ukrainian grain infrastructure at port. This is happening when the global wheat supply and demand balance sheet remains relatively tight historically. Hence Australian grain is needed and remains in demand. Last week saw many Australian prices push higher in the middle of the week before buyers cooled on their price expectations and growers generally held firm on their sales price targets at higher values. Wheat made up 67% of all grain traded through CGX last week with 12 grades purchased by 20 buyers across all states of Australia. More buyers were searching for wheat offered for sale. 17 buyers purchased barley through the exchange last week with 7 grades of feed and malt accounting for 28% of all grain traded last week. Canola continues to be in demand with values improving in many areas, while lupins hit $370/t in Kwinana and oats $380/t last week. The igrain market traded faba beans in South Australia, oats in NSW, and feed barley across NSW and VIC with plenty of buyers looking to secure parcels of wheat also through the week. Demand remains robust across Australia for all grades and commodities. If you have a price in mind be sure to offer your grain for sale on CGX or igrain so all buyers can see it and try to buy it. That's how you create demand for your grain. See what traded below on CGX and login to your CGX or igrain accounts to see more price information.

The tables below provide a summary of traded prices 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.