Weekly Grain Traded CGX - 22 May
Clear Grain Exchange
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Prices generally improved across most grades and locations last week, with increased buyer appetite evident on CGX.
Ongoing dry conditions across many Australian growing regions seems to have caused a change in market sentiment.
Long term forecasts also suggest a potentially drier winter period which may have been the catalyst for buyers to look to extend their cover.
Sellers reacted to these conditions by asking more for their grain, with 340 sellers having their offers matched as buyer activity increased throughout the week.
#wheat remained the dominant commodity traded across most port zones, although #barley prices and volumes increased across southern regions.
Feed barley traded $347/t Port Kembla, $332/t Melbourne, $313/t Geelong, $307/t Portland, $295/t Kwinana, $293/t in Port Adelaide, $290/t Albany and $250/t in Thevenard.
#malt grades traded with PL1 $362/t & SP1 $355/t in Melbourne, MAXI1 traded $345/t in Kwinana while MA1 was $295/t Port Adelaide.
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ASW1 prices improved in many locations reaching $382/t Esperance, $378/t Newcastle, $370/t Port Adelaide, Albany & Geraldton, $368/t Geelong, $365/t Port Kembla and $350 Kwinana as examples.
Buyer appetite for lupins was evident in the west, with LUP1 trading $365/t Kwinana and $345/t Geraldton. Oats traded $342/t Albany
Regardless of what #grain you have in warehouse or whether you want to sell in the near-term or are prepared to target higher prices and potentially hold grain for longer; there is value in having it on offer.
Whilst sowing activities are front of mind for many growers, buyers are actively searching grain offered for sale. They can crunch their numbers and match your offer price when you least expect it.
That's the beauty of the #exchange. Firm offers on an independent and #secure exchange draw buyer eyes, searching for the grain they need in the location required.
By having your grain on offer and available for buyers to see, you can create demand for your grain.