Auction Trade refers to trades under the organization of National Grain Trade Center. In this way, major trading information including quality, health indicators, trading location, deliver time, quantity and starting price of grain need to be purchase or sell will be released through the National Grain Electronic Trading Platform. Then qualified purchasers or sellers may provide their prices follow the principle of price precedence. In the limited time, the maximum purchasing price and the minimum selling price will determine the auction. The whole process will be transparent, standardized, and black-box operation avoided to effectively protect the benefits of state and customers. The forms of Auction Trade include listed competitive bids, solicit bids, orientational bids, etc.
Negotiated Trade refers to trades that can be conducted by grain purchasers or sellers themselves from the front end of National Grain Electronic Trading Platform as clients. Grain purchasers or sellers should upload required grain trade information, such as quality, health indicators, trading location, deliver time, quantity and starting price. After approved by National Grain Trade Center, those information could be released. Then qualified purchasers or sellers could provide their prices. The grain trade information mentioned above are negotiable. When purchaser and seller reach a consensus upon grain trade information, the deal will be clinched.