Weekly Grain Traded CGX - 25 August

Grain stored on-farm can now be sold on CGX

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1. Some bids improved last week - There is some meaningful grain accumulation going on right now and prices have been dragged higher by growers holding the prices they're willing to sell for.

2. Growers are impacting prices - Grain sold last week averaged $8.95/t above best published bids, some wheat grades traded up to $30/t above.

3. 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.

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29 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.

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Market stats for last week

• 29 buyers purchased grain on CGX - more were searching for grain

  • 10 in QLD and NSW

  • 9 in VIC

  • 6 in SA

  • 11 in WA

• 94 sellers sold grain through CGX across 118 transactions - more were offering grain for sale

• 6 agent and/or advisory businesses sold grain on behalf of growers

• 26 different grades traded

• 6 commodities - Wheat, barley, canola, lentils, lupins, sorghum

• 11 port zones traded across QLD, NSW, VIC, SA and WA

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Some improvement in bids last week

Many bids improved through last week, dragged higher by growers holding the prices they're willing to sell for.

There is some meaningful grain accumulation going on right now by a number of buyers as some exporters take advantage of some near term interest, and end users continue to step in and buy as they need given there is some time before harvest.

Grain sold through CGX averaged $8.95/t above best published bids last week, some wheat grades traded up to $30/t above best advertised prices.

This demonstrates the value of growers offering their grain for sale to all buyers on an independent exchange.

Growers setting a price on their grain and offering it for sale in Clear Grain Exchange (grain stored in warehouse) and igrainX (grain stored on-farm), enables them to have a say in Australian grain prices with the exchange but also impacts published bids and traded values in the broader Australian market.

14 grades of wheat made up 82% of all grain traded through the exchange last week with 21 different buyers bidding up to purchase those grades, and more buyers searching for wheat listed for sale.

AWW1 wheat in the west (ASW1 equivalent) was trading $348/t FIS, higher protein milling grades were attracting attention in SA with APW1 trading $335 port track, while H1 was achieving $350/t in Melbourne, and SFW1 was trading $336/t Port Kembla as examples. Niche wheat grades of Durum and Noodle were also attracting demand and trading.

Barley, canola, lentils, lupins and sorghum grades stored in warehouse and on-farm were also trading at strong values relative to published bids across the country.

If you have grain for sale stored either in warehouse or on-farm, there is no downside in offering it for sale on the exchange, it costs nothing to do so, and by having it offered for sale every buyer can see it crunch their numbers and try to buy it.

That's how you create demand for your grain and establish your grain's true value.

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

There are plenty of buyers that want Australian grain. There are consistently more than 100 buyer organisations searching for grain offered for sale on Clear Grain Exchange (warehoused grain) and igrainX (on-farm grain).

Grower selling behaviour will impact Australian grain prices. Rather than selling grain into published bids and softening prices, growers can offer grain for sale closer to bids to hold values.

This simple action helps all buyers see your grain, crunch their numbers and try to price their bid at your sell levels.

There are plenty of buyers for Australian grain, make it easier for them to try and buy your grain.

The prices traded through the exchange at a port track (eastern states) 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.

The more Australian growers offering grain for sale, the greater say growers have on the price grain trades!

The intent of CGX is to try and get as many buyers as possible to try and buy growers grain, and growers can control this by offering grain for sale.

That's how you get more buyers trying to buy your grain, not just for this season, but for future seasons creating a more sustainable industry for growers.

Please 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.

Click here to view recent trades and search the market

The charts below provide a summary of grain traded last week

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Click here to view recent trades and search the CGX market

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

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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