Weekly Grain Traded CGX - 7 February
Trading Highlights
Most grain prices improved through the week - Buyers were actively searching and bidding on grain offered for sale.
Often grain trades without seeing a bid - Buyers often simply purchase grain on offer rather than bidding against it - they're all looking.
Create demand by offering your grain to all buyers - Regardless of what grade it is or what site it is warehoused, there are plenty of buyers that want it.
With Australian grain the most competitively priced into international markets, the exchange gives you the option to warehouse grain and offer it at the price you want to all buyers rather than accepting published bids.
Trade stats for last week
38 buyers purchased grain on CGX - more searching
18 buyers in the eastern states
11 buyers in SA
20 buyers in WA
37 different contract grades traded
6 commodities traded - wheat, barley, canola, lupins, oats, peas
15 port zones traded across NSW, VIC, SA and WA
128,135 tonnes were sold in 392 transactions through CGX last week
Grain prices improved through the week
Grain prices generally improved through last week as buyers were actively searching and bidding on grain offered for sale.
38 different buyers purchased grain on CGX last week with more searching for grain, which is a relatively high number and indicates stronger demand through last week.
The demand was across all commodities and grades generally as buyers continue to juggle their grain accumulation with their commitments. Trade volumes last week were generally reflecting the shape of the crop and where grain was offered for sale.
Don't be concerned if you can't see a bid on the exchange when you are offering grain for sale. Simply determine the price you want and offer it. Often you will never see a bid, just a trade as buyers jump in and purchase grain offered for sale rather than bidding against it. Buyers are looking at grain offered for sale.
Grain demand can often be hard to predict, if you have your grain on offer at least all buyers can see it and try to buy it - that's how you create demand for your grain.
There are often many more buyers than you may realise that want your grain.
Price differentials between port zones, between grades, between commodities, and global values remain larger than normal. This is reflecting price being impacted by very local supply and demand factors, grade quality, and often published bids not reflective of traded values.
The table below provides a list of grain values traded on CGX last week.
When your grain is offered for sale on CGX all buyers can see it and have the opportunity to try and buy it. More than 300 buyers are registered with CGX to buy your grain.
There are more buyers willing to buy your grain than you are likely aware of. Offering your grain for sale on an independent exchange helps attract more buyers to your port zone and establish the true market price.
Many growers are offering their grain for sale at prices they think are closer to fair value on CGX and creating the opportunity for their grain to sell at better values.
There are plenty of buyers that want your grain. Regardless of what grade it is or where it has been delivered, you can create demand by offering your grain for sale on CGX.
OFFER OFFER OFFER!
The below charts provide a summary of what traded last week. If you would like more detail on what has traded please click the recent trades link or feel free to call the CGX team.
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