AWB has made a number of changes to its 2009/10 estimated pool returns (EPRs), with benchmark APW grade wheat estimated at $263 a tonne in the Eastern Pool and $257/t in the Western Pool (FOB, excl GST).
AWB general manager for commodities, Mitch Morison, said with harvest progressing across Australia’s wheat belt, the company was obtaining a clearer picture of the crop profile, overall production volumes and its customer requirements for the 2009/10 harvest.
"The good news is that we have increased hard wheat values in both pools and opened a number of new grades to meet growers demand – a stock feed wheat for the eastern pool, a soft 3 grade and durum grades in the West," Mr Morison said.
"Recent weather has impacted on the quality of the wheat in some areas which has influenced a number of our EPRs.
"While prices have retreated from the highs of last year they still remain reasonable in spite of high world wheat stocks brought about by strong international production in 2009.
"US wheat futures remain supportive in light of world stocks however they have reduced from their recent highs.
"The strength of the Australian currency is still weighing on Australian wheat prices and AWB will continue to manage a foreign exchange hedging program for the 2009/10 wheat pools."
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