Apr 2

Weekly Grain Traded CGX - 02 April

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

Growers creating demand for grain - There have been some significant lifts in prices bid and traded for many grades of grain in many locations.
38 buyers met grower target prices to purchase 47 grades - Wheat, barley, canola, faba beans and oats traded across 13 Australian port zones.
CGX and igrain enable growers to offer grain for sale - Growers delivering to warehouse can offer grain for sale on CGX. Growers with grain on-farm can offer grain for sale on igrain and determine pickup/delivery timeframes.

38 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

38 buyers purchased grain on CGX - more were searching for grain
14 in NSW and QLD
16 in VIC
9 in SA
18 in WA
240 sellers sold grain through CGX across 328 transactions - more were offering grain for sale
16 agent and/or advisory businesses sold grain on behalf of growers
47 different grades traded
5 commodities - wheat, barley, canola, faba beans, oats
13 port zones traded across QLD, NSW, VIC, SA and WA

Growers creating demand for grain

Many growers were able to sell grain at prices they had been targeting last week as the improvement in demand for grain seen in recent weeks continued.

There have been some significant lifts in prices bid and traded for many grades and locations through March.

Many of the prices achieved may not have been realised if growers had not offered their grain for sale at a price they were targeting and showing all buyers.

Grain is regularly trading at better prices than advertised bids. The price being achieved has been driven by growers offering, buyers seeing it and jumping up to match what growers want to buy it.

It's worth noting that the improvement in demand for grain recently is partly due to growers offering grain for sale at their target prices when bids were lower.

Buyers have consistently searched grain offered for sale and if they couldn't match the offer on the day, they knew it was there to buy if they could match the price.

By having grain on offer, even if bids were lower than where you would sell, or indeed there were other offers to sell at lower prices than you were willing to sell, it is still worth having your grain offered for sale.

Why? Because it keeps buyers interested in your grades of grain in your location because they know it's there - that's a good thing, otherwise they can move on!

There is no downside in having your grain on offer! It costs nothing to have a CGX account and nothing to have your grain offered for sale, plus you're anonymous at all times.

You can edit or cancel your offer at anytime before it sells and if it sells you retain title of your grain until you're paid with CGX's secure settlement.

There is so much value to be generated in the simple act of growers "OFFERING" their grain for sale rather than accepting published bids.

We hope everyone had a safe and lovely Easter with reasonable prospects of rain in the coming months.

Many prices have improved in recent weeks

Chart: Traded prices on CGX are dots versus best published bid lines.

A summary of what traded on CGX last week is provided in the charts and table below. See more prices of what traded by logging in to your CGX or igrain accounts.

The tables below provide a summary of traded prices on CGX 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.