Do I have to submit a sample for grading and analysis? 

Submitting a sample is currently mandatory, though we are planning to adapt our approach in the coming months. A professionally analyzed sample allows our marketplace to provide the best and most consistent service to both buyers and sellers - keeping our buyers informed is the easiest way for farmers to receive more money for the product in their bins. Third-party analysis provides accurate listing of your product and attracts more buyers who are excited to purchase a verified product. 

 

Who pays for sample analysis? 

Sellers are responsible for the sample analysis fees, which run $30-50 per sample for Standard CGC export analysis. Remember that this kind of quality information means more buyer interest, which typically leads to higher sell prices. If you want to leverage even more margin from your product in auction, you are welcome to add additional tests and publish those results within your auction details. 

 

What are MGX fees? 

Aside from the above sample fees, we charge buyers and sellers a set fee of $3.50 per metric ton once a sale is made. 

 

Does MGX handle payment and delivery? 

Not at the moment. MGX’s role is to bring buyers and sellers together and provide visibility into the commodities available. Once a contract has been signed it is up to the buyer and seller to fulfill the terms of their contract.

 

Are listings typically FOB (Freight On Board)? 

Yes. Freight and net handling fees are assumed to be included as part of any bid.

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I’m used to seeing commodities listed in pounds, not Metric Tons (MT). How can I figure out the right units for each listing?  

By default, all listings are in MT, but when you list or buy a commodity you will have the option of selecting which units you want to use. Please note that we do not include bushels as part of our conversions, as bushels are not a measure of weight.

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What if I don’t want to sell to a particular company? 

Sellers will soon have the option to exclude businesses from participating in their auctions. Even though it is anonymous, we ensure you only work with partners that are the right fit for you. 

 

What is a proxy bid? 

Proxy bidding is when Buyers have the option to set a maximum price that they would be willing to bid for that auction listing. This allows the platform to bid for them by the bid increment until someone places a higher bid than their maximum. 

 

Where do I send samples? 

All samples should be sent to the MGX office. 

2964 Cumberland Ave S 

Saskatoon, Saskatchewan, Canada 

S7J 2A6 

 

 

Seller FAQ:

 

How much inventory can I list?

The amount you can list is unlimited.

 

Who are the buyers on this site?

See our current buyers page.

 

Do I need to submit separate samples for every bin, even if the commodity is the same across multiple bins? 

We encourage sellers to submit and test samples from each field, or each bin, or for every piece of inventory that may have slightly different characteristics.

 

Do I need to give MGX the location of my farms?

In order for freight to be accurately calculated, we ask that you save your farm location in your profile, as well as the bin site location on each piece of inventory you list on MGX. This information is not shared publicly.

 

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Buyer FAQ:

 

How can I contact a seller? 

Once you have placed a bid, at the bottom of the bid page you will have the option to directly message a seller using a list of common questions that we provide. All contact information (yours and theirs) will remain anonymous until your bid is accepted, at which point you will be able to exchange messages freely. 

 

How do I know what MGX will charge me for each transaction? 

We charge $3.50/MT sold.  The terms and fees of each transaction are broken down for you before you accept the trade. 

 

What do I do if the seller doesn't deliver on the contract terms? 

We encourage sellers to reach out to CGC at the very first signs of trouble.  Farmers have 90 days to file a dispute with Licensed grain companies.  We also suggest that farmers only do business with companies they feel confident in.