CXN360 Frequently Asked Questions
The ability to see bids is exclusive to CXN360 members. To see bids you either need to log into the system online or review the asks sent directly to your mobile phone. CXN360 is not a listing service which means you will only see bids issued directly to you. You can view the offers issued directly to you from buyers.
The bids issued to you on the CXN360 service are cash bids from buyers with terms and conditions to you, they are real offers to buy your grain. The bids you get from an elevator can vary. Some companies share their current basis levels to just give you market information while some companies make you a price offer but you need to discuss the terms. With CXN360, the price, quantity, and terms are all in the offer or bid, giving you the ability to accept without making any phone calls unless you want clarity. Learn more about responding to bids on CXN360.
No. CXN360 is a membership-based service. There is no “catch” or additional fees beyond your membership fee. Now that is simple and easy!
CXN360 does not have an app. The service is fully mobile friendly for any Android or iOS system. You can use CXN360 on the browser of your mobile device (Wi-Fi or data enabled). You can also choose to receive bids via text message.
Bids & Asks
There are 2 types of contracting available within the CXN360 service:
- Cash (flat) pricing for commodities
- Basis pricing linked to contract months with commodities that are actively traded on exchanges.
Yes. Asks can be cancelled at any time with two simple clicks. Once cancelled, your ask is no longer available for buyers to see or respond to.
Yes. Marketing to multiple buyers simultaneously is one of the biggest benefits of CXN360. You can make the offer to multiple buyers with a target price and delivery window. The first past the post in the service is the one to accept the offers so you have no risk of over contracting.
Your bids will come as either delivered terminal (T) or pick up farm / FOB Farm (F). You will need to determine the shipping of the grain yourself or through a third party. If it is bought FOB Farm (F), the buyer is responsible for freight.
Yes. However, you must talk to the buyer before you can cancel it. An agreement is binding once you have entered your PIN. Should something change for some reason, you must call the buyer and they will initiate the process to cancel the contract. The system does not allow for either party to blindly cancel an agreement.
Similar to traditional contracts, all deliveries are subject to grade at unload. Communication between buyer and producer is important. Sharing samples is one best practice to help ensure the buyer knows what to expect.
Currently CXN360 is not set up to negotiate individual offers. The best practice is to decline the offer as issued to you, and then issue an ask back to the buyer with the terms you would like. Alternately, you can contact them directly and discuss the terms of the contract to gain clarity.
The exchange of payments does not occur through CXN360. Payment is received as per usual process with grain buyers. You can and should contact the buyer if you have specific questions about the payment process.
All of our buyers are either licensed by the Canadian Grain Commission (CGC) or have gone through an extensive process that includes a discussion of their payment process. Ag Exchange Group has a vested interest in having all parties act with integrity. Growers should receive payment against the payment schedules each buyer shared before becoming members. Should either party blatantly execute with ill intent (not pay or consistently deliver substandard product) we can and will cancel memberships.
There is not a library on the service that houses buyer’s contracts. As a grower, if you are concerned about the contracts you are pre-agreeing to, we strongly encourage you to contact the buyer. In fact, when you review a bid on CXN360, the buyer’s contact information is available for you to review. You can quickly and efficiently reach out to them to discuss the terms and conditions to their contract.