Weekly Grain Traded CGX - 6 April - Clear Grain Exchange

Grain stored on-farm can now be sold on CGX

Demand for grains remained robust - Market moves have enabled buyers to bid higher for grain with traded prices regularly higher than cash bids.
120 buyers searched for grain - The number of buyers searching and bidding for grain remains high and indicates demand and support for prices.
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

48 buyers purchased grain on CGX - more were searching for grain
- 2 in QLD
- 27 in NSW
- 18 in VIC
- 11 in SA
- 15 in WA
253 sellers sold grain through CGX across 501 transactions - more were offering grain for sale
13 agent and/or advisory businesses sold grain on behalf of growers
52 different grades traded + grain stored on-farm with specific attributes
9 commodities - Wheat, barley, canola, faba beans, lentils, lupins, maize, oats, sorghum
14 port zones traded across QLD, NSW, VIC, SA and WA

Robust demand for grains

Hoping everyone had a safe and enjoyable Easter Holiday. Demand for grains remained robust for the reasons outlined last week. That is...

A stronger CBOT wheat market and weaker A$ than a month ago is helping buyers manage the risk of purchasing grain from growers at better prices.
Domestic end users stepped in to secure more cover, possibly due to prices looking more supported and growers about to start seeding.
Short term in international markets were reports the Philippines purchased more wheat, highly likely Australian ASW1 or similar.
Reports also of bulk freight becoming more available, albeit at higher rates, but at least it's being offered versus some hesitation after the Iran uncertainty.
Some speculation over northern hemisphere winter wheat crop conditions as they near emergence from dormancy.
Medium to longer term the higher fuel and fertiliser costs is likely to see less corn planted given it's a high input crop, and more biofuel use - meaning tighter supply and higher demand.

The result is buyers crunching their numbers to bid on grain listed for sale at higher prices than growers may have seen elsewhere.

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 are largely setting prices in this market

Growers are impacting the price of Australian grain by how they sell.

Last week 48 different buyers purchased grain through the exchange in a shortened week last week. 50 buyers made 355 bids for grain and 120 buyer organisations made 6,192 searches for grain they could try and purchase last week.

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.

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.

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.

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.