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More grain receival sites set to host AgriDigital, CGX cloud-based trading

by Grain Central, 21 September 2017

A COLLABORATION between software developer, AgriDigital, and Clear Grain Exchange (CGX) could enable a single location for ticket information with any storage provider, and achieve confirmation of more transfers in real time, in the cloud, efficiently and securely.

Following an agreement between AgriDigital and CGX this month, the collaboration will be operating in time for the 2017 winter-crop harvest.

Customers of bulk handlers of any size could securely link AgriDigital’s supply chain-management capabilities with CGX’s trading platform, which required specifications such as weight, quality, location and ownership to be listed with each parcel of grain.

“AgriDigital’s platform provides integrity and security around this information at more sites, which is great for our online market,” CGX managing director, Nathan Cattle, said.

“The collaboration with CGX would add value to the grains industry,” AgriDigital executive director, Ben Reid, said.

“AgriDigital delivers a cloud based multi-user trading and inventory system for growers, traders and BHCs, which enable CGX to now operate at any site that licences AgriDigital.”

Through its ability to track through the supply chain, AgriDigital’s software will ensure the integrity of grain provenance and administration, while the CGX trading platform will enable buyers and sellers to trade in a live market.

Via AgriDigital’s online platform (example here), growers who deliver grain to a receival site will be able to view in real time delivery information about the parcel, and log on to CGX to create a firm offer on all or part of it so the price and tonnage can be listed anonymously.

When the offer trades, CGX will generate live notification of the sale, as well as further instructions on how to transfer deliveries via CGX’s secure settlement facility.

Based on these instructions, the grower would access their deliveries in the AgriDigital platform and transfer the appropriate deliveries to CGX, specifying the CGX trade reference.

CGX’s secure settlement facility will then process the trade, and upon receipt of funds from the buyer, payment to the grower and title transfer to the buyer will occur simultaneously.

The collaboration also extends to traders wishing to sell their inventory on CGX.

Source: AgriDigital, CGX

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