Weekly Grain Traded CGX - 13 April - Clear Grain Exchange

Grain stored on-farm can now be sold on CGX

Grain prices underpinned by demand - Drying conditions in north eastern Australia and export business from southern states are underpinning prices.
127 buyers searched for grain - The number of buyers searching and bidding for grain remains high and indicates demand and support for prices.
Offer grain for sale when you know prices you'd sell for - Use the 'Market Almost Open' report to check expected price moves ahead of market open.

27 buyer businesses purchased grain through Clear Grain Exchange (CGX) last week. More buyers were searching for grain offered for sale.

Market stats for last week

44 buyers purchased grain on CGX - more were searching for grain
- 25 in NSW
- 7 in VIC
- 12 in SA
- 11 in WA
185 sellers sold grain through CGX across 254 transactions - more were offering grain for sale
12 agent and/or advisory businesses sold grain on behalf of growers
33 different grades traded + grain stored on-farm with specific attributes
7 commodities - Wheat, barley, canola, faba beans, lupins, maize, oats
13 port zones traded across NSW, VIC, SA and WA

Prices underpinned by demand

Demand for grain continued to underpin prices through last week, driven by drying conditions in north eastern Australia and export business from southern states.

Buyers of grain into the Queensland and northern NSW markets are looking further south down the east coast for grain with prices now factoring in a drought premium to the southern states.

Grain stored in warehouse and on-farm through NSW is highly sought after as buyers look to get more cover to hedge some uncertainty on crop prospects and road freight.

Bids and traded prices are regularly well above advertised cash prices (refer examples below). Growers are setting prices and pulling bids to those levels.

Wheat is wheat through NSW as a general comment with prices of most grades now on par reflecting the domestic feed market driving demand. Millers are also active however and jumping in when they see parcels of quality they need offered for sale.

25 different buyers purchased grain just through NSW during the shorter 4-day week last week with more buyers searching for grain offered for sale.

Demand in the southern states remains driven by exports and there were reports of new sales through the week which is keeping prices across many grains and grades at season highs.

There are also trades occurring in future delivery months such as July with some buyers able to pay higher prices than nearby months because it better suits their needs and cash flow which has provided some nice opportunity for growers wanting deferred delivery and payment.

Growers are largely setting prices in this market

Growers are setting prices and pulling bids to those levels across all states and grains.

Last week 44 different buyers purchased grain through the exchange across Australia in a shortened week last week. 49 buyers made 378 bids for grain and 127 buyer organisations made 5,687 searches for grain they could try and purchase last week.

The number of buyers searching and bidding for Australian grain through the exchange remains high, and is an indicator of demand and supportive to prices.

Growers with grain stored on-farm are making use of igrainX to list grain for sale within their online Clear Grain Exchange account and getting the benefit of all buyers being able to see it and bid for it.

Regardless of where prices are being bid, growers and their agents can offer grain for sale at prices they're targeting to sell. Don’t just offer grain for sale when you're a seller, offer grain for sale when you know prices you'd sell for.

Remember, your grain can only sell on Clear Grain Exchange within market open hours (10am to 8:30pm AEDT) at the price you set and you're able to edit your offer price any time before it trades.

Plenty of buyers want Australian grain. These search numbers are an indicator of demand - the higher these numbers, the more supported prices are. Last week was a shortened week with only 4 trading days.

ASW1 wheat was trading $387/t port track equivalent Newcastle last week. Port Kembla ASW1 was trading $346/t (+$13/t above the highest cash bids at the site), Melbourne $333/t (+11/t above the highest cash bid), Port Adelaide $325/t (+$9/t) and AWW1 in the west was trading $340/t port FIS (+$15/t).

Feed barley was trading $358/t Newcastle (+$16/t above highest cash bids), $351/t Kembla (+$22/t), $330/t Melbourne, $304/t Adelaide (+$7/t) and $355/t Kwinana (+$5/t).

Canola traded $710/t Port Lincoln, and GM canola was $720/t Kwinana (+25/t) + oil bonification payments. Faba beans were $505/t Adelaide, Lupins traded $362/t Kwinana (+$10/t) and oats were trading volume at $360/t Kwinana (+$20/t).

The prices traded through the exchange at a port track (eastern states) 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.

Blank grades are grain that's been described by growers for grain stored on-farm and does not necessarily meet a GTA grade.

Please call the CGX team 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.