Weekly Grain Traded CGX

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

Are NSW growers missing out? - Where growers are offering grain for sale at prices they're targeting, they're influencing grain prices.
42 buyers met grower offer prices to purchase 42 grades - Wheat, barley, canola, chickpeas, faba beans, 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.

27 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale. — 42 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

42 buyers purchased grain on CGX - more were searching for grain
- 20 in QLD and NSW
- 19 in VIC
- 15 in SA
- 18 in WA
493 sellers sold grain through CGX across 647 transactions - more were offering grain for sale
- 79 in QLD and NSW across 99 transactions
- 74 in VIC across 90 transactions
- 158 in SA across 219 transactions
- 188 in WA across 239 transactions
21 agent and/or advisory businesses sold grain on behalf of growers
42 different grades traded
6 commodities - Wheat, barley, canola, chickpeas, faba beans, and oats
15 port zones traded across QLD, NSW, VIC, SA and WA

Are NSW growers missing out?

Where growers are offering grain for sale at prices they're targeting, they are influencing grain prices.

In WA last week, APW1 wheat was trading in volume $8/t better than best published bids from buyers as collected across a plethora of sources.

This example is highlighted because it's a predominant grade many growers will have across Australia. But there are plenty more examples.

Stock feed wheat trading more than $6/t better in Kembla, BAR1 barley $7/t better in Newcastle, some canola grades $60/t better in Pt Adelaide and over $20/t in Melbourne (+ oil), chickpeas $50/t better in Brisbane, H2 wheat picking up over $30/t better in Adelaide........... the list goes on.

Last week there were 647 transactions on CGX. 401 of these were above the best published bid of the day at that location and in many cases exceeded the best published bid by a lot. Another 82 grain sales were at the best published bid.

In the majority of other cases there were no published bids for the grade at that location. Hence the trade created price discovery.

Australian growers are in control of their grain's sell price. Buyer bids are only half the equation. A bid needs to match a grower's sell price to trade.

If growers wait for buyer bids and react to them each day, it's draining for growers, but more importantly growers are not creating their prices for grain.

Growers may be able to negotiate a better grain price than best published bids, but how do they know they're negotiating with the buyer with the highest demand and highest willingness to pay.

By growers proactively offering their grain for sale at prices they're targeting on an independent and secure exchange it means all buyers can see it, crunch their numbers and try to buy it.

Make it easier for all buyers to buy grain from growers by proactively offering it for sale. You don't know what you don't know and often there are better prices available than you may realise.

WA and SA growers are leading this behaviour and they're impacting prices as a result. VIC, NSW and QLD growers could likely be offering more grain for sale.

To help with this, CGX recently released the ability for growers to offer grain stored on-farm for sale to all buyers from within their CGX online account.

Grain listed for sale that's stored on-farm is protected by counterparty insurance, a diligent buyer registration process, and CGX managing invoicing and collection of funds from the buyer on the growers behalf.

The new independent and secure market for grain stored on-farm is igrainX, and a number of growers were actively offering grain stored on-farm for sale through igrainX and trading last week.

Refer to your emails for more detail regarding igrainX. Please login and have a look and/or call our support team at anytime.

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

Last week 42 buyers purchased grain through Clear Grain Exchange (CGX) and a total of 112 buyers made 8,569 searches for grain listed for sale on the exchange.

There are plenty of buyers searching for Australian grain offered for sale.

Australian grain is in demand and growers are impacting the price of grain by showing the market their price!

Please refer to the tables below providing a summary of prices traded through CGX last week, or better yet, login to your online CGX account to search and view all prices.

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.