ONLINE agricultural transaction platforms have evolved as users become more conversant with the services they might expect from new versions of digital tools as a flurry of grain market competitors hurry to develop service-offerings to clients.
ASX-listed agribusinesses Elders (ASX:ELD) and Graincorp (ASX:GNC), and Australia’s biggest co-operative business, CBH Group, have each presented a fresh slant to the market in the past week.
While the marketing platforms have their intrinsic more-bang-for-your-buck features managing price discovery, counterparty risk and ease of use, each competitor strives to improve. Watch this space.
Elders, CGX link up
Elders, and online grain platform, Clear Grain Exchange (CGX), teamed up this week with Elders buying a 20-per-cent stake in CGX.
This move is expected to throw the potential of willing grower sellers from its 400-odd branches across Australia to support growth in the business.
GrainCorp has been refining for several years its online grower-to-buyer trading platforms through the company app and CropConnect portal.
CropConnect launched last year, and this week GrainCorp announced it would have fresh functions coming soon.
The revamped version will include a counter-bid function in which a seller can lodge a firm offer, and a buyer can also lift their bid — via a push-notification text only seen by the parties — to try to close the transaction above the site published bid price.
New in WA
CBH Group recently modified its digital offering too.
As Grain Central reported last week, the MarketPlace feature on the CBH DailyGrain website would allow a firm offer from WA growers to match with a buyer’s bid and loads would automatically nominate to the buyer to organise payment to the grower.