Nov 27, 2023

Weekly Grain Traded CGX - 27 November

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

Buyers want Australian grain - 37 buyers bid up to grower offer prices to purchase grain on CGX last week - growers set the price.
Demand for all grades in all locations - 36 grades traded of wheat, barley, canola, faba beans, lentils, lupins and oats across 14 port zones.
CGX and igrain enable growers to offer grain for sale - Growers delivering to warehouse can offer grain for sale on CGX that has been delivered or will be delivered in future months. Growers with grain on-farm can offer grain for sale on igrain and determine pickup/delivery timeframes.

37 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.

Grain market statistics for last week

37 buyers purchased grain on CGX - more were searching for grain
9 in NSW and QLD
4 in VIC
9 in SA
24 in WA
219 sellers sold grain through CGX across 282 transactions - more were offering grain for sale
12 agent and/or advisory businesses sold grain on behalf of growers
36 different grades traded
7 commodities - wheat, barley, canola, faba beans, lentils, lupins, oats
14 port zones traded across QLD, NSW, VIC, SA and WA

Buyers wanting Australian grain

37 buyers purchased 36 grades of wheat, barley, canola, faba beans, lentils, lupins and oats across 14 port zones around Australia last week reflecting robust appetite for Australian grain.

High protein wheat grades continued to trade at premium prices to other grades through last week. APH2 and H2 traded $502/t and $442/t track Port Kembla respectively, H1 was trading $450/t Kwinana, $437/t Portland and $426/t Port Adelaide as examples.

APW1 wheat was trading $434/t Newcastle and $416/t Kwinana, while ASW1 traded $400/t Kwinana, $396/t Newcastle, and $372/t Port Adelaide.

The new AWWT wheat grade in WA, which is intended to incorporate lower grades such as AGP1 and accept higher moisture deliveries, was trading at ASW1 equivalent values of $400/t. This may indicate bulk management is helping push value to growers.

Noodle wheat grades in the west are attracting strong demand, which is likely reflecting some uncertainty over supply of that niche market, with ANW1 trading for $470/t in Kwinana and APWN trading $425/t. Off spec high protein wheat grades are also finding demand.

The barley market continues to remain steadfast with feed trading at $365/t Port Kembla, $360/t Kwinana, $357/t Melbourne and $337/t Port Adelaide. Premiums continue to be achieved for malt grades and some old crop malt was trading through Melbourne/Geelong. Discounts for lower feed barley grades were minimal at $5-10/t.

The bid-offer came together in the canola market to trade at $703/t in WA and $642/t Port Adelaide plus oil bonifications.

Milling oats traded $480/t in the west and demand for pulses remains strong generally with lupins now trading $500/t Kwinana, nipper lentils $947/t Port Giles, and faba beans $485/t Port Lincoln.

In the igrain market wheat, barley, oats, lentils and lupins were trading on an ex-farm and delivered basis.

Remember putting your offer price into the market drives demand from buyers. By having your grain offered for sale, ALL BUYERS can see it and try to buy it, and you're protected by ANONYMITY and SECURE SETTLEMENT on CGX.

If you're a little unsure of your sell price, start higher. If you want to sell in the near term, put your offer closer to the bid. If you need help, simply give us a call at anytime!

If you use CGX and igrain correctly, they can only add value to your business.

See what traded on CGX last week below or login to your CGX or igrain accounts to see more price information.

The tables below provide a summary of traded prices 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.