Weekly Grain Traded CGX - 06 May

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

Strength in grain prices continues - Grain prices continued to push higher last week as buyers bid up to secure grain at grower offer prices.
45 buyers met grower prices to purchase 38 grades - Wheat, barley, canola, faba beans, and oats traded in 15 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.

45 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

45 buyers purchased grain on CGX - more were searching for grain
12 in NSW & QLD
22 in VIC
13 in SA
17 in WA
247 sellers sold grain through CGX across 337 transactions - more were offering grain for sale
14 agent and/or advisory businesses sold grain on behalf of growers
38 different grades traded
5 commodities - wheat, barley, canola, faba beans, oats
15 port zones traded across QLD, NSW, VIC, SA and WA

Strength in grain prices continues

Grain prices continued to push higher last week getting back to near January levels in many cases as buyers bid up to secure grain.

45 different buyers purchased grain offered for sale through Clear Grain Exchange last week with another 75 searching for grain.

Buyers made over 8,000 searches for grain on CGX just last week!

Demand for Australian grain remains robust evidenced by the number of buyers searching and bidding for grain offered for sale.

Many growers appear to be taking advantage of the strong appetite for grain, naming their price and offering it for sale so all buyers can try and purchase it.

The behaviour from growers, and their agents if they use one, is yielding results with traded prices on CGX regularly above advertised best published bids.

ASW1 wheat was the predominant grade traded last week with volume through Victoria and South Australia in particular. Prices traded were $354/t Pt Kembla, $352/t Pt Adelaide, $342/t Melbourne, and $395/t Kwinana.

More niche grades such as noodle wheat in the west is seeing tighter supply against buyer requirements, pushing values strongly higher. This dynamic is also happening for specific grades in specific locations where a buyer/s need it and bid up.

The rise in international values recently has priced in more uncertainty in global production. It will be interesting to see if the market is more balanced now or if bad news in a global production region pushes prices higher.

If you have grain in warehouse, be sure to offer it at the price you want on CGX (or if your grain is stored on-farm, use igrain!).

Put your price on your grain and let ALL BUYERS see it and try to buy it.

There's no downside. Growers are protected at all times on CGX by remaining completely anonymous and retaining title of their grain until paid with CGX's secure settlement.

Growers are impacting demand and prices directly by actively offering their grain for sale at the price they will sell it for.

Many prices have improved in recent weeks

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

Chart: Traded prices on CGX are dots versus best published bid lines - triangles are CGX trades at other sites within the same port zone worked back using GTA location differentials to equivalent prices at the site of the chart for comparison.

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.