Weekly Grain Traded CGX - 10 November

Clear Grain Exchange
Nov 11
4 min read

Updated: Nov 18

Grain stored on-farm can now be sold on CGX

Growers impacting grain prices - Some price improvement reflects buyers wanting grain and growers broadly not yet comfortable with prices to sell.
Deliver and OFFER grain for sale - Growers have opportunity to frame the market by offering grain for sale at their sell prices against buyer bid prices.
CGX and igrainX 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 igrainX and determine pickup/delivery timeframes.

27 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale. — 25 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.

Market stats for last week

25 buyers purchased grain on CGX - more were searching for grain
- 6 in QLD
- 10 in NSW
- 8 in VIC
- 4 in SA
- 6 in WA
50 sellers sold grain through CGX across 61 transactions - more were offering grain for sale
3 agent and/or advisory businesses sold grain on behalf of growers
14 different grades traded
5 commodities - Wheat, barley, chickpeas, lupins, maize
9 port zones traded across QLD, NSW, VIC, SA and WA

Growers impacting prices

A number of grain prices have improved since the beginning of harvest with published bids of numerous wheat grades in the north east of Australia improving $15-20/t over recent weeks.

Prices for many grades in other parts of the country where harvest is less advanced have been holding though with more modest gains generally.

The improvement reflects buyers wanting grain and growers broadly not yet comfortable with prices to sell in earnest, although there have been examples where heavy grower selling has seen prices drop quickly and significantly.

There is demand for Australian grain with the world expecting Australia to supply a large part of the Asian grain demand, though there is some vying from North America and the Black Sea. CBOT wheat futures have lifted in recent weeks.

How Australian growers sell their grain is having an impact on prices here and globally. Sell a lot of grain quickly into cheaper and cheaper bid prices and it pushes prices lower. Offer grain for sale against bids and show buyers the sell prices of growers and it can stabilise and improve values.

Offering grain for sale is not about selling for better prices than best published bids, it's about impacting all bids from all buyers, including those published bids advertised on cash boards.

Growers have opportunity to frame the market by offering grain for sale at their sell prices against buyer bid prices.

If looking to sell grain now, offer close to or at bid price levels to sell your grain. If you’re not satisfied with bids and can hold grain, list your grain for sale at the higher price you’re targeting.

Rather than delivering and selling by hitting cash bids, deliver and offer grain for sale at your price and help set the market.

Growers can help avoid downward price pressure at harvest by offering grain for sale.

Last week 14 grades of wheat, barley, chickpeas, lupins, and maize traded with 25 buyers purchasing and 34 buyers bidding for grain through Clear Grain Exchange (grain stored in warehouse) and igrainX (grain stored on-farm). 109 buyers made 3,251 searches for grain offered for sale.

The prices traded through the exchange at a port track (eastern states) or FIS (in WA) level are provided below, but if you're reading this email you will have your own CGX account so login and use it to see what's trading, what's offered, and what's being bid at sites to help you determine the value of grain in your area.

Australian grain is needed by the world and international buyers are turning their attention towards Australian price expectations.

The opportunity for Australian growers is to show them prices they would sell for as early as possible to help impact those price expectations.

If you’re harvesting or close to harvest and comfortable some of your production is assured, now’s the time to offer some grain for sale for all buyers to see.

There are plenty of buyers for Australian grain, make it easier for them to try and buy your grain.

The intent of the exchange is to make it as easy as possible for growers to set prices and for as many buyers as possible try to buy it, whilst securely protecting all parties.

It is so important for growers to offer grain for sale at their prices, rather than looking for buyer bids to be advertised and reacting to them - be proactive, take control, and offer.

That's how you create demand for grain and establish your grain's true value.

Growers are impacting the price of Australian grain by offering grain for sale and leading bids higher.

Please call the CGX team at anytime for assistance on 1800 000 410.

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.