Weekly Grain Traded CGX - 23 February

Grain stored on-farm can now be sold on CGX

Demand spreads across all grains - 43 grades of wheat, barley, canola, pulses, oats, sorghum and hay traded across 17 port zones.
Traded prices are often very different to public cash bids - Public cash bids are becoming less reflective of the actual value of grain in many instances.
Plenty of buyers searching for grain - 115 buyers made 7,657 searches for grain offered for sale on CGX. 49 buyers were bidding for grain.

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

45 buyers purchased grain on CGX - more were searching for grain
- 2 in QLD
- 18 in NSW
- 9 in VIC
- 10 in SA
- 17 in WA
201 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
43 different grades traded
10 commodities - Wheat, barley, canola, chickpeas, faba beans, hay, lentils, lupins, oats, sorghum
17 port zones traded across QLD, NSW, VIC, SA and WA

Demand spread across all grains

The demand profile was more evenly balanced across grains last week with wheat and barley grades making up 34% respectively of all grades traded through Clear Grain Exchange and igrainX. Canola was 15% and chickpeas, faba beans, lentils, lupins, oats, sorghum and hay made up the rest.

Determining the value of grain is becoming harder in a number of grades and locations across Australia with traded prices often very different to prices publicly bid for grain, particularly across commodities such as canola and pulses. But we're also seeing traded prices $5-20/t above published cash bids across major wheat and barley grades.

There are plenty of buyers searching to buy grain across Australia with 45 grain buyers finding parcels of grain they could purchase, and 49 buyers bidding on parcels of grain offered for sale. 115 buyers made 7,657 searches for grain through the exchange last week.

There are plenty of buyers for Australian grain. Make it easier for all buyers to try and buy your grain.

27 buyers purchased 19 grades of wheat through the exchange with all quality types trading from high protein milling grades through to feed.

APW1 wheat was trading $328/t track port equivalent Kembla (+$3/t above the best published cash bid at the site) and $321/t Adelaide (+$9/t above).
Higher protein APH2 was trading $345/t Kembla (+$22/t).
ASW1 was trading $310/t Adelaide and AWW1 in the west (similar grade to ASW1) was trading $320/t FIS in WA (+3/t).
Of the lower grades AGP1 was trading $327/t Newcastle and Feed wheat traded $315/t FIS WA(+$5/t).

Note for growers storing grain on-farm that are unsure of what grade it would be classified as, they have the ability to describe the quality of the grain that they know. The more detail of the grain provided, the more interest it appears to attract as buyers can work with the quality that's known.

Growers storing grain on-farm can describe the quality of the grain they're storing when offering it for sale to help maximise it's value from buyers.

In barley markets feed was trading $310/t Kembla with a small premium to maximus malt. Geelong feed barley traded $308/t (+$10/t) with an $8/t premium up to maximus malt, and feed barley was trading $332/t FIS in the west with maximus trading the same values.

There was quite a bit of demand for canola across all states with six buyers bidding up for the grain to match some grower price targets regularly over $25/t above published cash bids.

Markets for pulse crops remain active with NIPTB lentils trading $642/t Giles (+$40/t), faba's were trading $450/t Adelaide (+$34) and lupins trading $350/t in the west (+5/t).

Sorghum was trading $315/t delivered Moree, oats were trading $330/t FIS Kwinana (+$5/t), and hay was being transacted off-screen through CGX's secure settlement facility, Clear Settle, to protect all counterparties in the transaction.

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

Regardless of where prices are being bid, growers and their agents can offer grain for sale at prices they're targeting to sell. If you have a sell price in mind, it's time to put it out there.

Don’t just offer grain for sale when you're a seller, offer grain for sale when you know prices you'd sell for. More growers are doing this and they're impacting prices.

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.