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Weekly Grain Traded CGX - 12 February


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


logo igrain by clear grain exchange
 
  1. Large price differences for grain exists between states - There is a stronger price signal from sellers in WA and WA prices are above other states.

  2. 29 buyers met grower target prices to purchase 36 grades of wheat, barley, canola, faba beans, lentils, lupins and oats in 12 port zones.

  3. 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.

 
29 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale.
29 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


  • 29 buyers purchased grain on CGX - more were searching for grain

  • 6 in NSW

  • 9 in VIC

  • 9 in SA

  • 17 in WA

  • 240 sellers sold grain through CGX across 319 transactions - more were offering grain for sale

  • 13 agent and/or advisory businesses sold grain on behalf of growers

  • 36 different grades traded

  • 7 commodities - wheat, barley, canola, faba beans, lentils, lupins, oats

  • 12 port zones traded across NSW, VIC, SA and WA

 

Price differences between states


Price differences across port zones for the same grades of grain remained last week.



ASW1 wheat as an example was trading in volume at $400/t FIS in Western Australia along with other more similar quality grades such as ASW9, AUS9 and AWWT.



In other parts of Australia ASW1 traded $360/t port track in Port Kembla, $350/t in Port Adelaide and $330/t in Melbourne.



The natural price spread you'd expect to see between WA and eastern states port zones is in the vicinity of $25-30/t, reflecting supply chain costs and additional bulk freight.



Eastern states port zones are trading below natural spreads to WA, however in smaller volumes implying growers in those zones are holding out for better prices.



Grain that was trading on CGX was often at better prices than those advertised by published bids (see charts below for examples).



Growers have a say in the price of grain and interestingly the largest volumes of grain offered for sale and largest number of offers on the exchange is in WA.



The more grain buyers can see at grower sell prices, the more impact it is likely to have on the price, because the price signal from sellers is stronger.



WA growers are actively offering grain for sale at the price they feel it's valued, or where they would be a willing seller, and it's resulting in buyer demand and trades.



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.



29 buyers purchased 36 grades of wheat, barley, canola, faba beans, lentils, lupins and oats on CGX last week, with more buyers searching grain offered for sale.




ASW1 wheat trading at GrainCorp's Milvale warehouse site




ASW1 wheat trading in the Kwinana zone of CBH's warehouse system




The tables below provide a summary of traded prices on CGX between 05 Feb and 12 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.


grain prices in the main ports in Eastern Australia

grain prices in the main ports in SA & Vic

grain prices in the main ports in WA




The charts below provide a summary of grain traded last week



grain commodities traded on Clear Grain Exchange
grain commodities traded in NSW on Clear Grain Exchange

Grain commodities traded in VIC last week on Clear grain Exchange

grain commodities traded in SA on Clear Grain Exchange


grain commodities traded in WA on Clear Grain Exchange



 

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

logo igrain by clear grain exchange
 

If you have any queries, we're always here to help!

Please give us a call or email if you have any questions.

Call 1800 000 410 or Email support@cgx.com.au

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