Igrain, the online grain trading platform purchased by Australia's leading online trading house, the Clear Grain Exchange (CGX) is set to be relaunched, with a focus on grain stored on-farm.

CGX managing director Nathan Cattle said igrainX would be CGX's primary focus when providing an electronic market for on-farm grain.

The tonnages of grain stored on-farm continues to rise rapidly, particularly on the east coast, where there is a strong domestic demand for grain, with CGX seeing an opportunity to expand its product offering and enable growers, brokers and buyers across Australia the chance to trade on-farm grain.

igrainX has been designed as a complementary feature for the existing CGX market for grain warehoused within the bulk handling network.

"It will provide industry a single independent exchange to handle transactions for grain stored on-farm and in-warehouse," Mr Cattle said.

He said igrainX would be accessed via a CGX users online account and provided the same mechanisms for growers to offer grain stored on-farm for sale at prices they're targeting as available for warehoused grain."

"All buyers can see grain offered for sale and actively bid to try and secure it in a live and firm market which attracts more buyers and ensures buyers with the highest demand get the grain," he said.

In the case of ex-farm grain contracts through igrainX, growers are protected by credit insurance and CGX invoicing buyers and collecting payments on their behalf.

"Our aim is to improve farm gate returns by creating more efficient markets where all supply chain participants benefit," he said.

"Growers with grain stored on-farm can now access all buyers while being protected, while buyers gain a wider supply network and deeper visibility on the prices growers want".