Weekly Grain Traded CGX - 2nd September
CGX now own and operate the igrain market for grain stored on-farm
How can growers create demand for grain? - If it's not offered for sale it can't sell, buyers can't buy what they can't see.
Growers can offer new season grain for sale - this month season 24/25 was opened for growers to set their price.
18 buyers met grower prices to purchase 22 grades - Wheat, barley, canola, lupins, oats and sorghum traded in 9 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.
When your grain is offered for sale on CGX all buyers can see it and try to purchase it.
Market stats for last week
18 buyers purchased grain on CGX - more were searching for grain
39 sellers sold grain through CGX across 60 transactions - more were offering grain for sale
4 agent and/or advisory businesses sold grain on behalf of growers
22 different grades traded
6 commodities - Wheat, barley, canola, lupins, oats and sorghum
9 port zones traded across QLD, NSW, VIC, SA and WA
How can growers create demand?
Australian grain markets were subject to soft demand last week with little to spark buyers to push prices higher.
Australian crops are generally improving across the nation and not far from harvest in the north east, while offshore demand remains focussed on northern hemisphere supply for the moment.
In saying that, parcels of grain are trading. It's just sporadic and largely random as buyers cover requirements when they need.
22 grades of wheat, barley, canola, lupins, oats and sorghum traded across port zones in QLD, NSW, VIC, SA and WA just last week through Clear Grain Exchange (CGX).
Various grades and quality of wheat, chickpeas, and peas stored on-farm and offered for sale on igrain traded last week.
A soft price environment can be challenging for growers who want to sell. The reality is if it's not offered for sale, it can't sell!
Offering your grain for sale gives it a chance of selling and often creates demand for your grain. If buyers don't know it exists they can't buy it!
A good example of this is barley in Western Australia week before last (refer chart). Growers had barley offered for sale at prices they wanted, it created demand for that grain and saw buyers push prices higher to purchase the grain with trades in excess of published bids, however the demand only lasted for a short period of time.
If this grain had not been offered for sale, the demand may not have eventuated and growers may not have sold grain at prices they put on it.
Growers may not have sold their barley if it was not offered for sale on CGX!
Charts: Traded prices on CGX are dots versus best published bid lines.
If you're looking to sell your grain quicker, you can adjust your offer price closer to published bids to give it a stronger chance of selling quickly.
For those thinking about making grain sales for the coming harvest to manage cashflow, you can now offer your grain for sale for Nov/Dec and Dec/Jan delivery on CGX.
Simply login to your CGX account or call the team on 1800000410.
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.
It's free to have your grain on offer and you can edit or cancel your offer at anytime before it trades. Plus you're anonymous and protected by best-in-class contract settlement if your grain sells.
There is no downside in offering your grain for sale on CGX (if in warehouse) or igrain (if stored on farm) - only upside!
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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