Weekly Grain Traded CGX - 2 February

Grain stored on-farm can now be sold on CGX

Buyer interest in grain remains strong - creating opportunity for growers to achieve target prices, though Argentine exports are hampering wheat prices.
Plenty of buyers searching for grain - 109 buyers made 5,629 searches for grain offered for sale on CGX. 41 buyers were bidding for grain.
See prices traded + more firm bids above cash bids - 31 grades of wheat, barley, canola, pulses and oats traded across 13 port zones.

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

35 buyers purchased grain on CGX - more were searching for grain
- 2 in QLD
- 12 in NSW
- 5 in VIC
- 9 in SA
- 17 in WA
164 sellers sold grain through CGX across 215 transactions - more were offering grain for sale
8 agent and/or advisory businesses sold grain on behalf of growers
31 different grades traded
8 commodities - Wheat, barley, canola, faba beans, lentils, lupins, oats, peas
13 port zones traded across QLD, NSW, VIC, SA and WA

Interest in grain remains strong

Interest in grain remains strong, creating pockets of opportunity for growers to achieve their target prices, though Argentine wheat exports continue to hamper Australian wheat prices.

The number of buyers searching and number of searches buyers are making for grain offered for sale is at high levels. Buyers want grain.

Barley, canola, pulses, oats, sorghum and various wheat grades used for specific purposes is where grower sell price targets and buyer's ability to pay are coming together to trade.

ASW1 wheat was trading $321/t track port equivalent Newcastle, $310/t Portland, $300/t Adelaide, and AWW1 in the west (similar grade to ASW1) was trading $320 FIS Kwinana.

Buyers were scouring through offers of various wheat grades to try and make something work and we saw grades such as AUH2, HPS1, APWN etc. trading at value. Demand for the higher protein wheats was strong in the west pushing H1 to significant premiums over other grades.

Feed barley was trading $329/t Brisbane, $320/t Kembla, $313/t Melbourne, $301/t Adelaide and $328/t FIS Kwinana.

Demand for canola, pulses, oats and other commodities continues to tick along with buyers able to match grower sell prices to keep those grades moving into markets.

35 buyers purchased grain through Clear Grain Exchange (grain stored in warehouse) and igrainX (grain stored on-farm) last week.

Additionally, 41 buyers were bidding for grain offered for sale and 109 buyers made 5,621 searches for grain offered for sale.

The heightened buyer interest in grain suggests if you have a sell price in mind, it's time to put it out there.

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

Bulk wheat exports of grades such as ASW1 are struggling to price into export markets versus Argentinian wheat except in markets where Australia has a structural advantage, such as the Philippines.

Although, the market expectation is for Argentine wheat exports to slow as their supply chains shift focus towards exporting other commodities such as corn and soybeans.

Less wheat available from Argentina would be helpful towards some improvement in Australian wheat prices.

Australian growers generally have higher price expectations than buyer bids for many wheat grades and are concentrated on other grains and grades they may have for sales.

However, many growers are proactively offering those wheat grades for sale to help Australian buyers understand where prices need to be before they're willing sellers.

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 will sell for. More growers are doing this and they're impacting prices.

There are plenty of buyers for Australian grain, demand often lifts early in the New Year. Make it easier for all buyers to try and buy your grain.

Growers are creating the price opportunities for their grain by offering grain for sale to all buyers at the price they will sell for - it attracts buyer demand and bids.

Set your price, impact the market, and know that if the market reaches your price it will sell, while enjoying some family time through January.

Your grain can't sell at the price you want if you don't have it out there offered for sale, particularly if you're not watching markets while on holiday.

There’s no downside in offering your grain for sale, only upside – why wouldn’t you offer all of your grain for sale at prices you're happy with? Be proactive, take control, and offer.

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.

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.