Weekly Grain Traded CGX - 20 May
CGX now own and operate the igrain market for grain stored on-farm
The breadth of demand is wide for Australian grain - Buyers are searching in all locations for all types of grain, pulses and oilseeds.
50 buyers met grower prices to purchase 55 grades - Wheat, barley, canola, faba beans, lentils, lupins, oats and sorghum traded in 16 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.
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
50 buyers purchased grain on CGX - more were searching for grain
27 in NSW & QLD
23 in VIC
19 in SA
21 in WA
416 sellers sold grain through CGX across 579 transactions - more were offering grain for sale
18 agent and/or advisory businesses sold grain on behalf of growers
55 different grades traded
8 commodities - Wheat, barley, canola, faba beans, lentils, lupins, oats and sorghum
16 port zones traded across QLD, NSW, VIC, SA and WA
Wide breadth of grain demand
Australian grain prices continued to push higher at the start of last week with buyers increasing their bid prices to secure grain.
A more neutral to bullish than anticipated USDA WASDE report and news of more deteriorating crop conditions in the Black Sea and other parts of the world underpinned a more supportive global price outlook.
Locally continued dryness in WA and SA has the industry on edge and many growers appear to be patient sellers in response.
Many published bids for grain retracted towards the end of last week however offers generally didn't follow. Often bids jumped up to match offers and buy grain at better prices than bids publicly advertised.
50 different buyer businesses purchased grain at offer prices set by growers last week with another 70 buyers searching for grain.
Buyers made over 9,000 searches for grain on CGX just last week!
55 different grades traded of wheat, barley, canola, faba beans, lentils, lupins, oats and sorghum in 16 port zones across QLD, NSW, VIC, SA and WA.
It indicates the "breadth of demand" for Australian grain right now. Buyers are searching in all locations for all types of grain, pulses, oilseeds.
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!).
By doing so, ALL BUYERS can see your grain, crunch their numbers, and try to buy it. Offering your grain for sale creates demand for your grain.
Grain offered for sale on CGX regularly sells at better prices than best published bids. Refer to the charts below for examples.
Last week there was regularly different prices bid 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!
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.
Put your price on your grain and let ALL BUYERS see it and try to buy it.
Many prices have improved in recent weeks
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.
The charts below provide a summary of grain traded last week
CGX now own and operate the igrain market for grain stored on-farm
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
Comments