| ||Media Release: AWB 2008/09 pool forecast|| ||
AWB 2008/09 Estimated Pool Return (EPR) has been left unchanged following a fortnight review.
The EPR range for APW wheat is $350 - $370 (FOB, GST exclusive) and the Western Australian noodle grade wheat is now at $355 - $375 (FOB, GST exclusive).
AWB Australia Commodity Division General Manager, Mitch Morison, said a reduction in US wheat futures market has been largely offset by a decline in the Australian dollar late last week resulting in no change to the EPRs.
“The Northern Hemisphere winter wheat harvest continues to progress well in the Ukraine and Russia with excellent wheat yields however, there is some quality concerns regarding the Ukraine harvest,” Mr Morison said.
“Winter wheat crops in the US and EU continue to look in good condition and recent good rains in Canada has improved the outlook look for the Canadian wheat crop.
“The outlook for wheat exports from the Black Sea continues to be strong this season, and this will set the benchmark for world wheat cash pricing to many key import markets going forward.”
Growers are again reminded that the 2008/09 EPR is currently not supported by a hedging program and will continue to fluctuate by price movements in international wheat markets.
AWB will continue to provide regular updates on the 2008/09 season pool estimate going forward.
Media Inquiries: Peter McBride on 03 9209 2174 or 0417 662 451