Weekly Grain Traded CGX - 26 August
CGX now own and operate the igrain market for grain stored on-farm
Lift in barley demand with growers controlling the controllables - If you have grain to sell, OFFER it for sale at the price you want.
Growers can offer new season grain for sale - during the week season 24/25 was opened at a number of sites for growers to set their price.
25 buyers met grower prices to purchase 25 grades - Wheat, barley, canola and sorghum traded in 13 port zones across NSW, VIC, SA and WA.
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.
Market stats for last week
25 buyers purchased grain on CGX - more were searching for grain
7 in NSW
8 in VIC
6 in SA
10 in WA
96 sellers sold grain through CGX across 136 transactions - more were offering grain for sale
10 agent and/or advisory businesses sold grain on behalf of growers
25 different grades traded
4 commodities - Wheat, barley, canola, and sorghum
13 port zones traded across NSW, VIC, SA and WA
Lift in barley demand
Australian grain markets continued to be jumpy and hard to predict through last week.
Buyers are balancing near term needs with improved prospects of the coming harvest and sluggish offshore demand, while growers typically appear despondent on prices indicated by published bids and wanting more.
Published bids for old crop grain are becoming more sporadic and less reflective of actual traded prices if they occur, and so price discovery is proving challenging for many.
Growers have a say in the price of grain and can control their OFFER prices in grain markets. Your grain can't sell if the market doesn't know it exists.
By OFFERING your grain for sale at the price you believe it is worth, or the price you want for it, on CGX (warehoused grain) or igrain (on-farm grain), every buyer in the market can see it and try to buy it.
This creates demand for your grain and often it will sell at prices you didn't think were available at the time.
For example, last week there was improved demand for barley in the west (refer chart below).
Published bids improved (see line) but barley OFFERED for sale on CGX still traded at better prices than the improved published bids (refer dots).
If growers had not offered there grain for sale and let all buyers know it existed, this improved demand for barley may not have emerged.
There's value in growers controlling their controllables. In the case of selling grain, your controllable is determining what price you want for grain and OFFERING it for sale so ALL BUYERS can see it and try to buy it.
If it's not on offer it can't sell - set the market price by offering your grain for sale and creating demand.
It's free to have your grain on offer and you can edit your offer price or cancel your offer at anytime before it trades. Plus you're anonymous at all times and protected by best-in-class contract settlement if your grain sells ensuring you're protected.
There is no downside in offering your grain for sale on CGX (if in warehouse) or igrain (if stored on farm) - only upside!
Simply login to your CGX account to view all prices and determine what you think your grain is worth. 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!
Many published "bid prices" have pulled back recently
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
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