With the West Australian grains industry reaching a record 24 million tonnes this season, DailyGrain’s digital trading platform, MarketPlace has also recorded several weeks of large trades.
Following the platform’s latest improvements, WA growers and consultants have indicated strong support this season, bringing the total for the season to over 115,000 tonnes with over 275 trades.
DailyGrain Manager, Wayne Hiller, said that he was thrilled by the increased use of MarketPlace this season.
“It is fantastic to see more growers and consultants using the MarketPlace to market their grain. The feedback has been very encouraging, and we will continue to invest in the service in the future.”
“For example, I would like to continue improvements to the mobile app to make it even easier to do business when working away from the office.”
“The ‘Top 5’ continues to be a useful tool for assisting growers in securing marketers’ prices daily. This provides a baseline for expected prices, but we see even greater transparency with the MarketPlace with trades that are often above published prices.”
“We believe that it is important to provide WA growers with an alternative and fee-free digital platform to market their grain. Whilst we are owned by the CBH Group, we are managed and operate independently from other areas within CBH. Aside from the obvious benefit of supporting the co-operative, growers can choose to enhance their experience by integrating their DailyGrain account with their LoadNet account, all whilst maintaining full independence from the Marketing and Trading division.”
“Ultimately, we exist to sustainably create and return value to WA grain growers, current and future – and any tool we can help growers leverage for the challenging task of grain marketing is a win for our customers.” said Mr Hiller.
With strong global demand for Australian grain, DailyGrain has been able to create further value for WA growers by enabling them to become the price setter this season using MarketPlace.
MarketPlace was designed to give growers a say in the price they want for their grain and give real market transparency, enabling members to market their grain and set their price for all major commodities with full buyer and bid visibility.
Using the analytics tools, growers can determine what price to choose and then market their wheat, barley, canola, oats and/or lupins on MarketPlace, while marketers and grain buyers can post live bids at the same time.
With direct access to 23 grain marketers in Western Australia, and real time visibility of transactions, growers can quickly identify and take advantage of market trends and opportunities.
CBH grower, Melissa Rose from Western Hay in Northam started using DailyGrain earlier this year when they began harvesting canola and said that she was really impressed with just how easy the platform was to use.
“I am always on my phone so to be able to use the app and see current pricing and sell our grain from my phone is so much easier than logging onto a computer or calling CBH,” said Melissa.
“The integration with LoadNet also worked perfectly. The first time I used MarketPlace, I sold some canola and received a notification shortly after that it had been accepted. I quickly called the CBH Grower Service Centre to double check that it had actually gone through, and sure enough, it had worked.”
“I’m so impressed with just how easy it is to sell our grain with MarketPlace,” said Melissa. The DailyGrain team are talking daily with growers who are enjoying the process of setting a target price and watching it trade. The next focus for the team is to help growers get their new season 2022-23 targets and offers up on the platform while they get on with running their business.
For CBH members, MarketPlace can seamlessly connect to LoadNet, allowing growers to chart and view loads as well as contract and nominate spot trades, making the process hassle-free and reducing administrative burden.
This connection with LoadNet will ensure that sellers cannot duplicate the sale of grain on MarketPlace. When offers are placed on the MarketPlace, they require allocation of loads. If any of those loads are nominated elsewhere the Offer is automatically removed. This just provides an additional level of security to sellers.
All MarketPlace trades are fee free with no additional fees or commissions charged to either the Buyer or the Seller.