Weekly Grain Traded CGX - 29 July

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

Grain prices stabilise and/or improve - A positive lead from off-shore saw prices of many grades improve last week and buyers step in to buy grain.
27 buyers met grower prices to purchase 22 grades - Wheat, barley, canola, lentils, peas and sorghum traded in 12 port zones across Australia.
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.

When your grain is offered for sale on CGX all buyers can see it and try to purchase it.

Market stats for last week

27 buyers purchased grain on CGX - more were searching for grain
7 in NSW
10 in VIC
7 in SA
11 in WA
70 sellers sold grain through CGX across 100 transactions - more were offering grain for sale
11 agent and/or advisory businesses sold grain on behalf of growers
22 different grades traded
6 commodities - Wheat, barley, canola, lentils, peas, and sorghum
12 port zones traded across NSW, VIC, SA and WA

Prices stabilise and/or improve

Many grain prices stabilised and/or firmed through last week resulting in a higher number of buyers lifting their bids to match grower offer prices and purchase grain.

International futures prices have lifted off their recent lows and some large purchases of physical grain on the international market suggested some improved demand for grain at these levels.

This provided a stronger lead for Australian values and saw a number of buyers that had been sitting on the side-lines as prices edged lower, step back in to try and buy grain.

The demand was wide with 22 different grades of wheat, barley, canola, lentils, peas and sorghum trading across NSW, VIC, SA and WA.

However demand remained unpredictable with some very strong prices trading versus advertised published bids, buyers bid strongly to accumulate specific grades at specific locations that work for them.

Hence why it's important for growers, and their agents acting on their behalf, to be proactive and offer their grain for sale at the price they want. All buyers can then see it and try to buy it. You can create demand for your grain, and are less likely to miss out if the demand is sporadic and only there for a short time.

Remember that when your grain is offered for sale on Clear Grain Exchange, you remain anonymous at all times, it can only sell at the price you nominate, you can edit or cancel your offer at anytime before it sells for no fee, and when it sells you retain title until paid via secure settlement.

There is no downside in having your grain offered for sale on Clear Grain Exchange (for grain in warehouse) and igrain (for grain on-farm).

Demand for grain stored on-farm remained stronger than the warehouse market in many cases as buyers look to use their logistic expertise to create execution efficiencies and ultimately get closer to grower asking prices.

ASW1 wheat traded $325/t ex-farm Finley NSW, stock feed wheat sold for $356/t delivered Melbourne. Feed barley was trading $315/t ex-farm Beulah VIC and $300/t ex-farm Ungarie NSW. Feed grade maize sold for $335/t Berrigan NSW. Malt barley and lupins were also trading.

When selling through igrain growers can be protected with best in-class insurance for counterparty credit risk.

Growers have a say in the price of Australian grain. Show ALL BUYERS your sell price by offering it for sale on CGX or igrain.

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

Chart: Traded prices on CGX are dots versus best published bid lines.

Chart: Traded prices on CGX are dots versus best published bid lines - triangles are CGX trades at other sites within the same port zone worked back using GTA location differentials to equivalent prices at the site of the chart for comparison.

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.