Feb 5

Weekly Grain Traded CGX - 05 February

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

Growers managing OFFERS and buyers lifting BIDS - Grain markets come together to trade above published bids in many areas last week.
33 buyers met grower target prices to purchase 29 grades of wheat, barley, canola, faba beans, lupins and oats in 12 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.

33 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

33 buyers purchased grain on CGX - more were searching for grain
9 in NSW
4 in VIC
10 in SA
19 in WA
248 sellers sold grain through CGX across 332 transactions - more were offering grain for sale
10 agent and/or advisory businesses sold grain on behalf of growers
29 different grades traded
6 commodities - wheat, barley, canola, faba beans, lupins, oats
12 port zones traded across NSW, VIC, SA and WA

Growers manage offers - bids lift

Many growers have been returning from a well earned summer break, getting kids ready for school, and then considering business requirements and cashflow.

Others in the north east of Australia have been managing summer crops to make the most of recent rains which has required more income to cover expenses.

As a result we've seen a lot of growers actively offering their grain for sale and also managing the price of grain already offered for sale.

Growers wanting to sell their grain sooner rather than later, but still looking for better prices than buyers are advertising, have been editing their offer prices to a $10-$15 range above published bids.

Often growers are splitting grain parcels up into multiple offers at different price points with the aim of selling some in the short term for cashflow but also aiming for better prices in the future.

On the other side of the market, both domestic users and exporters have lifted their bid prices in many instances to get hold of grain, particularly lower quality grain which is trading well above published bids advertised in many cases.

Buyers were relatively patient through the new year period, but eventually they need to participate in purchasing grain.

The amount of grain to be exported and consumed domestically this year has not yet been bought from growers and buyers are actively searching the market to fill their requirements.

The charts below provide examples of the value growers receive by OFFERING their grain at their price to ALL BUYERS.

If your grain is not offered for sale it can't sell and you won't know if there are buyers willing to pay the price you want.

33 buyers purchased 29 grades of wheat, barley, canola, faba beans, lupins and oats on CGX last week, with many more buyers searching offers but unable to find grain offered at a price they were willing to bid.

The tables below provide a summary of traded prices on CGX between 29 Jan and 05 Feb.

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.