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Second Week of February Marks the Busiest Trading Week of the Season on Independent Grain Exchange

Clear Grain Exchange continues its rise as a preferred way to sell grain for growers and agents with their busiest trading week of the season and reinforces high buyer interest in Australian grain.

Independent grain exchange and leading agtech business in Australia, Clear Grain Exchange (CGX) have had 385,564 metric tonnes trade through the exchange on the second week of February. The highest weekly trade volume for the season so far.

The week builds on the exchange’s impressive growth results of recent months and previous years. More than 4.2 million tonnes have now traded through CGX in the last 12 months which is a far cry from its early start-up days.

Managing director of Clear Grain Exchange, Nathan Cattle, believes the market is now more familiar with the exchange and actively using it to create value in the industry.

“We feel the benefits of a more efficient market are better understood by all participants in the grain industry” Nathan said.

“On the seller side, the ability for growers and their agents to set the prices they want and plan their sales according to their specific needs has helped simplify the selling process so they can make better decisions”.

“Buyers are benefitting from seeing the offer side of the market so they can better plan their logistics and accumulation plans”.

The efficiency gains on both sides results in value creation within the market. This is reflected by grain regularly trading at higher prices than many may otherwise think are available.

“The exchange is designed to improve price discovery in the industry, and we’re glad it’s doing that”.

The exchange operates in all grain growing states around Australia and is proving to be one of the most effective ways for growers and their agents to sell grain stored in warehouse at the price they deem is fair value.

“Growers and their advisors simply determine the price they are willing to sell for and offer their grain for sale at that price, all buyers can then see it, crunch their numbers and try to buy it”.

It costs nothing to have an account and nothing to offer grain for sale. The exchange charges a small per tonne fee when the grain sells and encourage growers to factor their fees into the offer price.

If grain sells, growers are protected by a secure settlement process where-by they retain title of their grain until funds are secured.

Because of this process, all parties remain anonymous which is important to ensure there is no potential bias impacting the market or price.

“An exchange has to be independent” Nathan says. “CGX is not a buyer, seller or advisor of grain”.

“If an entity is trying to operate a transaction platform for third parties, whilst also being a potential principle in a transaction, that creates an inherent conflict that can influence the operations of the market, the effectiveness of it, and ultimately the price”.

Growers appear to have better awareness of this now with more opting to use CGX as their preferred selling tool.

“There should be no downside in using the exchange, growers simply need to be responsible for their sale price, and if in doubt they typically start with a higher price”.

The exchange now has well over 10,000 growers registered (NGR numbers) to offer grain for sale, 80 agent or consulting businesses able to manage offers on behalf of their growers, and more than 300 buyers ready to search and purchase grain.

The option for grain to trade for delivery now or delivery in future months along with deferred payment options has also been a win for both buyers and sellers as they manage cashflow. It’s seen grain trading at better prices in the future delivery months.

The success of CGX is a testament to the power of giving farmers the ability to create their own offers and set their own prices.

The milestone is a major win for growers and underscores CGX's commitment to providing a reliable, efficient, and transparent exchange for the grain industry in Australia.

Some market statistics for this season 22/23:

86 buyers have purchased grain on CGX

2,944 sellers have offered grain for sale on CGX

45 agent and/or advisory businesses sold grain on behalf of growers

90 different grades have traded

10 commodities have traded - wheat, barley, canola, sorghum, oats, lupins, faba beans, chickpeas, lentils, peas

15 port zones have traded across QLD, NSW, VIC, SA and WA

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