AWB today announced minor changes to its Estimated Pool Returns for the Eastern and Western Wheat Pools. The benchmark APW grade for the Western Pool has fallen $2 to $322/tonne FOB, while the Eastern Pool is down $4 per tonne to $323. Similar changes were made across all grades, except Durum which was increased $15 per tonne.

AWB General Manager Australian Commodities Stuart Richardson said US wheat futures have stabilised however strong export volumes from Argentina, Europe and the Black Sea continue to put pressure on international wheat cash prices.

“In recent weeks the market has shown a willingness to return to trading wheat fundamentals (supply and demand) rather than being driven by events in other financial markets,” Mr Richardson said.

“In Australia the harvest in northern New South Wales and Queensland is being affected by recent rains, and this is expected to have a negative impact on the quality of some of the wheat remaining to be harvested in these areas.”

Mr Richardson said the premium for East Coast wheat over West Coast had eroded in recent weeks as Eastern domestic buyers have fulfilled their early harvest requirements.

The increase in the Durum pool estimates reflects a stronger outlook for good quality Australian durum this year.

Media Inquiries:  Paul Ryan on 08 9318 8290 or 0429 856 883

EASTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive): 

 WESTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive): 

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