What is a 'firm' grain bid on CGX?
Where harvest is underway, Firm bids on CGX, that growers can sell into, are above cash bids.
What is a 'firm' grain bid on CGX ?
A bid on Clear Grain Exchange (CGX) is firm, meaning a buyer is committed to buy grain at that price.
In locations where headers are rolling, BAR1 barley and wheat grades such as APW1 and ASW1 are bid on CGX well above best site bids.
For example, 24/25 APW1 wheat traded $4/t above the best site bid at Thallon GrainCorp in Queensland this week.
In Western Australia, 24/25 AWW2 wheat traded $19/t above the best bid in Kwinana - there were more examples.
There is regularly more value for your grain than the highest cash bid. Use CGX before selling to make sure you don't undervalue your grain!
Selling through CGX has more benefits
When you sell into a firm bid on CGX, your sale is protected by CGX secure settlement.
Secure settlement ensures you're paid within 7 business days, you retain title of your grain until payment is received, and you remain anonymous.
You're also able to view the invoices for your grain sales at any time by logging into your CGX account and heading to the 'My Sales' page.
When growers sell grain into cash bids advertised at site they typically accept buyer payment terms and counterparty risk - by using CGX to sell grain this doesn't have to be the case.
OFFERING grain for sale on CGX keeps ALL BUYERS bidding!
The intent of CGX is to get as many buyers as possible to try and buy your grain.
If you're selling grain over the harvest period, make sure you login or call CGX for help - there's often more value out there!
If you're not a seller at current bid prices, you can OFFER your grain for sale at the price you want to ALL BUYERS securely!
Offering grain on CGX keeps buyers interested in your grain and attracts more into the market creating more demand for your grain.
If you use CGX correctly it can only add value
We're here to help!
Please get in touch at anytime!
If you use a grain marketing agent, they can access the exchange on your behalf.
1800 000 410 or support@cgx.com.au
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