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Weekly Grain Traded CGX - 13 May


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


logo igrain by clear grain exchange
 
  1. Demand for grain is strong - Grain prices continued their broad improvement last week as buyers bid up to secure grain.

  2. 59 buyers met grower prices to purchase 51 grades - Wheat, barley, canola, lentils, lupins, peas, and oats traded in 15 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.

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


grain prices in the main ports in EC

grain prices in the main ports in the SA


grain prices in the main ports in the SA & WA




The charts below provide a summary of grain traded last week



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

grain commodities traded in NSW on Clear Grain Exchange

Grain commodities traded in SA last week on Clear grain Exchange


grain commodities traded in NSW 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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