Weekly Grain Traded CGX - 7 March
Trading Highlights and News
First week of our new website saw 232,471 tonnes sold across 951 transactions on the open exchange - we'll follow-up with some FAQs.
Grain prices reacting to Ukraine events - As events unfold grain markets are reacting to cause extremely strong demand for Aussie grain.
Growers actively adjusting price targets - Growers and agents were actively editing offer prices. Remember you can edit offers at anytime and grain can only trade when the market is open (10:00-10:05am and 8:30-8:35pm AEDT).
Trade stats for last week
232,471 tonnes were sold in 951 transactions on CGX open exchange
49 buyers purchased grain on CGX - more searching
34 buyers in the eastern states
18 buyers in SA
20 buyers in WA
571 sellers sold grain on CGX with more offering grain for sale
29 agent and/or advisory businesses sold grain on behalf of growers
44 different contract grades traded
7 commodities traded - wheat, barley, canola, oats, peas, lupins, faba beans
16 port zones traded across QLD, NSW, VIC, SA and WA
Grain reacting to Ukraine events
Grain markets continued to react to the unfortunate events occurring in the Ukraine. CBOT wheat futures closed limit up in many sessions through last week as the market tries to get a handle on the impact to global grain supply and demand.
This has flowed through to demand for Australian grain rising to extreme levels as buyers have pushed up prices to try and secure grain.
Many growers have seen their target prices reached and have been selling grain held in warehouse on the back of the lift in values. Many are also actively adjusting their offer price targets as they monitor the evolving situation and/or are happy to stand aside from the market while they adjust their price expectations.
49 different buyers bought grain through Clear Grain Exchange just last week with more searching for grain listed for sale - and the demand is for everything - all grades, in all locations.
Many growers were selling above their offer price on the exchange last week as buyers were actively out bidding each other to secure grain listed for sale ahead of market open.
You're in control of your offer price and tonnage for sale and can edit it at any time before it sells. Your grain can not sell lower than your offer price, however can sell higher if buyers are out bidding each other ahead of market open.
There are often many more buyers than you may realise that want your grain. Offer it for sale to all buyers on CGX.
The charts below provide a summary of what traded last week.
Most importantly we're always here to help!
Please don't be afraid to give us a call or email if you have any questions.
New website - same great service
Call 1800 000 410 or Email support@cgx.com.au
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