Weekly Grain Traded CGX - 9 June

Clear Grain Exchange
Jun 10
3 min read

Grain stored on-farm can now be sold on CGX

Rain forecasts cap prices - Many buyers continued to take stock of their positions and watch weather forecasts and rainfall events last week.
36 buyers met grower offer prices to purchase 26 grades - Wheat, barley, canola, lentils, lupins, and sorghum traded in 12 port zones.
CGX and igrainX 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 igrainX 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. — 36 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

36 buyers purchased grain on CGX - more were searching for grain
- 9 in NSW
- 6 in VIC
- 12 in SA
- 13 in WA
68 sellers sold grain through CGX across 85 transactions - more were offering grain for sale
10 agent and/or advisory businesses sold grain on behalf of growers
26 different grades traded
6 commodities - Wheat, barley, canola, lentils, lupins, sorghum
12 port zones traded across NSW, VIC, SA and WA

Rain forecasts cap prices

Grain buyers continued to take stock of their positions and opted to watch weather forecasts and rainfall events rather than push prices higher in many cases.

In saying that, grain was still trading at prices growers were targeting through last week as some buyers needed to get cover, or found parcels at prices they could make work.

Given the flow of grain in south eastern Australia is not necessarily towards port, but rather getting pulled in many directions towards upcountry domestic end-user homes, it means grain offered for sale can attract demand from buyers that growers may not have realised were in the market for their grain.

That's the value of having your grain on offer in an open and secure exchange so all buyers can see it crunch their numbers and try to buy it.

Offering grain for sale is a proactive step growers can take to show their selling intentions and helps attract buyers with the highest demand.

The alternative to offering grain for sale is waiting and reacting to buyers published bids which are regularly not reflective of trade prices, and the waiting can cause angst. Offering grain for sale is a positive action in growers control.

For example, last week canola grades were trading through WA and SA more than $50/t over best published bids collected from a number of sources. Barley grades were trading between $4-55/t better than best published bids across SA, WA, VIC and NSW. Multiple wheat grades were trading at prices anywhere from equal to published bids up to $27/t better than the best published bid at the site. Sorghum traded $4/t better than than the best bid at site in NSW.

Growers have a say in the price of grain, and the most effective way for growers to impact prices is to ask for their price from the market by offering their grain for sale at the price they want.

Growers are impacting the price of Australian grain by offering grain for sale and leading bids higher.

68 different selling businesses sold 26 grades of wheat, barley, canola, lentils, lupins and sorghum to 36 different buyers last week.

Plenty of buyers are looking for grain with 42 buyers bidding for grain last week and 111 buyers made 4,466 searches for grain listed for sale on Clear Grain Exchange and igrainX.

There are plenty of buyers searching for Australian grain offered for sale.

Clear Grain Exchange and igrainX provides valuable price discovery for industry as growers and buyers try to determine it's value given grain is flowing in different directions.

The prices traded through the exchange at a port track or FIS (in WA) level are provided below, but if you're reading this email you will have your own CGX account so login and use it to see what's trading, what's offered, and what's being bid at sites to help you determine the value of grain in your area.

You can also call the CGX team at anytime for assistance on 1800 000 410.

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.