Weekly Grain Traded CGX - 13 May

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

Demand for grain is strong - Grain prices continued their broad improvement last week as buyers bid up to secure grain.
59 buyers met grower prices to purchase 51 grades - Wheat, barley, canola, lentils, lupins, peas, 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.

59 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

59 buyers purchased grain on CGX - more were searching for grain
28 in NSW
28 in VIC
17 in SA
23 in WA
441 sellers sold grain through CGX across 670 transactions - more were offering grain for sale
21 agent and/or advisory businesses sold grain on behalf of growers
51 different grades traded
7 commodities - wheat, barley, canola, lentils, lupins, peas, oats
15 port zones traded across NSW, VIC, SA and WA

Demand for grain is strong

Grain prices continued their broad improvement last week as uncertainty in offshore and Australian production drove buyer appetite to bid up and secure grain.

Many growers were achieving target prices they had set for sales, with 441 businesses selling grain through CGX last week across 670 grain transactions.

Another record 59 different buyer businesses pushed prices up to purchase grain at offer prices set by growers last week with another 64 buyers searching for grain.

Buyers made over 10,000 searches for grain on CGX just last week!

Interestingly CBOT July 2024 wheat futures rallied 24 USc/bu on Friday night after the latest USDA world agricultural supply and demand estimates were released.

Demand for Australian grain is strong and pushing prices higher. Growers can OFFER their grain for sale at the price they want and let buyers come to them.

This regularly yields better value than waiting for buyer bids and then reacting to them. Growers with grain offered for sale on CGX often sell grain at better prices than best published bids. Refer to the charts below for examples.

Last week there was regularly different prices put on the same grades of grain between sites in the same zone. Be sure to check the prices of sites in your area when offering grain for sale, you can search for prices in your CGX account.

If you need help using your CGX account, just call us. We're available anytime between 9am and 8:30pm AEST and happy to help!

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!).

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.

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

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.