Weekly Grain Traded CGX - 23 March - Clear Grain Exchange

Grain stored on-farm can now be sold on CGX

Growers setting grain prices - CGX traded values lifted through the exchange across most states and commodities and published cash bids lagged behind.
Number of buyers searching for grain reaches 2 year high - 128 buyers searched for grain offered for sale on CGX. 61 buyers were bidding for grain.
Global markets are moving Australian grain prices - 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.

When your grain is offered for sale on CGX all buyers can see it and try to purchase it.

Market stats for last week

51 buyers purchased grain on CGX - more were searching for grain
- 4 in QLD
- 18 in NSW
- 14 in VIC
- 15 in SA
- 15 in WA
235 sellers sold grain through CGX across 305 transactions - more were offering grain for sale
12 agent and/or advisory businesses sold grain on behalf of growers
43 different grades traded + grain stored on-farm with specific attributes
7 commodities - Wheat, barley, canola, faba beans, lentils, lupins, oats
15 port zones traded across QLD, NSW, VIC, SA and WA

Growers setting price in this market

Bid-offer price spreads widened through much of last week. CGX traded values were lifting through the exchange across most states and commodities and published cash bids lagged behind.

Growers are largely setting prices in this market. Buyers are watching to see the prices growers will sell for, hesitant to move published bids higher as some growers are willing to hit those prices.

Yet in many cases, buyers have pushed prices higher to match prices growers are targeting - which are regularly well above the best published cash bid.

51 different buyers purchased grain through the exchange last week. 61 buyers bid for grain (the highest in 12 months) and 128 buyer organisations (highest in 2 years) made 6,331 searches for grain they could try and purchase last week.

These numbers are an indicator of demand. The higher these numbers are, the more supported prices.

Monday saw intense demand for grain

Growers are impacting the price of Australian grain by offering grain for sale and setting prices.

Last week there were 30 buyers purchasing wheat through the exchange with more searching for that grain.

ASW1 wheatwas trading $350/t track port equivalent Brisbane (+$5/t above the best published cash bid at the upcountry site), $335/t Newcastle (+$11/t), $336/t Pt Kembla (+$9/t), $327/t Melbourne (+$16/t), $321/t Pt Adelaide (+$0/t), and AWW1 in WA (similar to ASW1) was trading $331/t FIS port Kwinana (+$2/t).

APW1, H2 and other higher protein wheat grades were trading at better prices to ASW1 in many locations, as were specific use grades such as noodle wheat in WA. The price difference to lower grades continues to narrow as a general comment with AGP1 and SFW1 wheat prices hovering between zero and $20/t below ASW1 depending on location.

18 buyers purchasedbarleywith feed barley trading $357/t Brisbane (+$0/t), $362/t Newcastle (+$7/t), $335/t Pt Kembla (+$18/t), $325/t Melbourne (+$18/t), $308/t Pt Adelaide (+$0/t), $338/t Kwinana (+$0/t), with minimal price differences to malt grades.

There were 8 buyers of GMcanolalast week as it continues to find homes and published bids are regularly not reflecting market value. GM canola was trading $686/t Melbourne (+$21/t above published cash bids), $664/t Pt Adelaide (+$30/t), and $730/t Kwinana (+$10/t) + oil bonification payments.

11 buyers purchasedpulseslast week as those markets continue to trade with lentils trading $674/t Portland (+$5/t), faba beans were trading $447/t Pt Adelaide (+$53/t), and lupins were making $355/t in Kwinana (+$5/t).

Oatswere making $340/t Kwinana (+$12/t) with 5 different buyers purchasing the commodity last week, more were searching for oats to buy.

Buyers were also searching, bidding and buying for grain stored on farm or delivered into delivery locations in the future. Login and look at igrainX for those values.

Grain continues to trade at very different prices than best published cash bids advertised. Make sure you're aware of this so you're not selling into a cash price that may be less than it's trading for.

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.

Buyer searches indicate demand and price support

Plenty of buyers want Australian grain. These search numbers are an indicator of demand - the higher these numbers, the more supported prices are.

There’s no downside in offering your grain for sale, only upside. 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.

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.