Weekly Grain Traded CGX - 23 June

eddieprevost5
Jun 23
4 min read

Grain stored on-farm can now be sold on CGX

Lift in demand pushes prices higher - 179 growers achieved their price targets to sell 37 grades of wheat, barley, canola, lupins, oats and sorghum to 41 different buyers last week.
108 buyers searched grain for sale on CGX and igrainX last week - Grain sold averaged $6.30/t above best published bids ranging up to $49/t above.
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. — 41 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

41 buyers purchased grain on CGX - more were searching for grain
- 12 in NSW and QLD
- 17 in VIC
- 9 in SA
- 15 in WA
179 sellers sold grain through CGX across 241 transactions - more were offering grain for sale
11 agent and/or advisory businesses sold grain on behalf of growers
37 different grades traded
6 commodities - Wheat, barley, canola, lupins, oats, sorghum
14 port zones traded across QLD, NSW, VIC, SA and WA

Lift in demand pushes prices higher

A lift in international wheat futures, ending the week at levels not seen since March, helped Australian prices improve through last week.

The strength in prices was on the back of some reported weather issues in the US and Europe, news of fresh global export demand possibly indicating importers had seen prices fall enough, and escalating conflict in the middle east.

Australian buyers responded by pushing Australian prices higher to try and buy grain. 50 buyers were bidding for grain last week and 108 buyers made 5,426 searches for grain listed for sale on Clear Grain Exchange and igrainX.

It was a timely improvement in prices for many growers that were looking to sell more grain before the end of June.

179 different selling businesses were able to achieve their price targets to sell 37 grades of wheat, barley, canola, lupins, oats and sorghum to 41 different buyers last week.

Grain sold through the exchange last week averaged $6.30/t above best published bids on the same day and ranged up to $49/t above bids advertised from buyers.

There was a lift in demand for Australian grain last week.

Wheat grades were the dominant commodity selling last week making up 68% of all grain sold with prices trading ranging up to $30/t above published bids.

Barley grades were also attracting demand at stronger prices than published bids as buyers look to finalise some export execution.

Canola values also improved significantly and appear to be struggling for price transparency with large discrepancies between bids advertised by buyers and prices actually traded.

Both non-GM and GM canola along with ISCC declared canola and non-ISCC declared were attracting buyers and trading at significantly higher prices than published bids and made up 21% of all grain sold last week.

Lupins, oats and sorghum were also trading at prices growers were targeting.

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

If growers would sell at a price, they can offer grain for sale at those prices on an independent exchange so all buyers can see it and try to buy it.

Offering grain for sale doesn't mean you are a seller in today's market or at current bid prices, but it is a proactive step you can take to show all buyers where you are a seller and ensure you don't miss any opportunities.

Growers have the opportunity to help set prices. There is no downside in offering grain for sale on CGX (warehouse) or igrainX (on-farm), only upside. Growers are anonymous, there is no cost until it trades, and growers are in complete control of the price.

Grain regularly trades at prices growers didn't realise existed - because they were proactive and offered grain for sale at the price they were targeting.

The prices traded through the exchange at a port track 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.

You can also 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.