Weekly Grain Traded CGX - 03 July

CGX acquires igrain

On Friday, CGX announced we would own and operate igrain.com.au from 1 July 2023.

igrain has been developing an online marketplace for grain with a particular focus on ex-farm and delivered market contracts. We believe the igrain market complements the CGX offering for warehoused grain.

CGX is not a buyer, seller, agent, or advisor of grain. We are a technology business with knowledge in developing and operating independent and secure exchanges.

We look forward to understanding and investing further in the igrain technology to create a more efficient market for the benefit of the entire industry.

What went up came down

International futures prices corrected abruptly lower last week which saw bids for Australian #grain pull back.

Many growers had sold grain in the price rally of the week prior and so were comfortable holding their offer prices rather than chasing the market lower.

This created sporadic trade on CGX last week as some buyers bid up to #grower offer prices to cover positions, and some #growers reduced their target prices to sell grain ahead of the new financial year.

Barley grades made up the majority of grain that traded through the exchange last week with feed trading a $5/t range in most states across the week.

Feed #barley was trading just under $300/t FIS in Western Australia, $315/t-$320/t in Victoria and $345/t-$350/t in Port Kembla. Malt grades continue to attract premiums when trading.

Reports of feed barley moving from the west to Queensland is reflecting a rapidly changing dynamic in grain markets across Australia.

The predominant wheat grades of ASW1, APW1 and H2 were also trading in reasonable volume across all states and demand remained steady for the minor crops of pulses and oats.

CGX gives growers control to set their price for their grain and send that price signal to the market whilst being protected by anonymity and secure settlement if their grain sells.

If you have grain for sale, be sure to have it on offer to create demand for it. You set the price - don't miss any opportunities.

See the full report and login to your CGX account to see more price information.