ON the back of increased demand, Clear Grain Exchange (CGX) will trade an extra two hours at the end of each trading day to accommodate customer requests and growth in WA.
As of last Saturday, the independent grain exchange moved the market close from 6.30pm AEST to 8.30pm AEST (5.30pm AWST).
The extension to live trading hours is national and is due to customer demand from grain sellers and buyers, particularly in WA, who wanted more opportunity to trade.
CGX managing director Nathan Cattle said the purpose of the exchange was to make it easier for all buyers to purchase grain direct from growers and ensure growers receive what their grain is worth.
Mr Cattle, who hails from Lake King, said the team was energised by the customer response and the exchange’s ability to adapt and deliver for them.
“The feedback from customers was opportunities to trade were being missed because market trading hours were closing at 3.30pm in WA during the months of daylight saving in the Eastern States,” Mr Cattle said.
“Often we were seeing an offer and bid match within a couple of hours after market close especially given there have been market-leading bids on the exchange as buyers jostle for grain.”Read More at www.farmweekly.com.au