New system allows growers to set price and choose buyers for wheat
Farmers can now set a price they want for their wheat and sell directly to global traders, following the launch of MarketPlace by CBH-owned grain price comparison provider DailyGrain.
The new system lets farmers view their inventory of wheat delivered to CBH and offer parcels to the market at a price they choose.
At the same time, grain buyers post live bids. When a bid and an offer are matched, a trade is executed with the grain automatically nominated. Details are then sent to the buyer for payment, with no paperwork requirement.
MarketPlace also allows growers to choose which buyers to accept bids from, providing easier access for growers to deal with buyers they trust, under suitable payment terms.
DailyGrain products co-ordinator Chris Badgery-Parker said MarketPlace provided wheat growers with information to make informed marketing decisions and sell with confidence. He said provided there was a good uptake this harvest, the service could be rolled out to other grains.
Mr Badgery-Parker said MarketPlace was a complementary rather than competitive service to CBH’s trading arm. DailyGrain is wholly owned by CBH.