AWB today widened the spread between the premium APW milling wheat grade and ASW for its 2008/09 Eastern and Western Wheat Pools. All other grades remain unchanged.

The benchmark APW grade has increased $1 per tonne and now stands at $327 FOB in the AWB Eastern Pool and $324/t FOB in the AWB Western Pool. ASW has fallen $4 per tonne in both pools, to $307 in the Eastern Pool and $304 in the Western Pool.

AWB General Manager Australian Commodities Stuart Richardson said wheat harvesting in the northern parts of the Eastern seaboard was progressing well, with good crops being harvested in Queensland and northern New South Wales.

In Western Australia wheat harvesting was moving into parts of the Eastern Central Wheatbelt. In the north of WA progress had been slowed as cool and sometimes damp conditions made it difficult for farmers to get into their paddocks.

Global markets continue to be range bound after several months of a strong downward trend.

“Wheat markets remain under pressure, but the weaker dollar is helping support values, “Mr Richardson said.

“Demand for Australian wheat remains quite strong, especially given the shortage of supplies as a result of the drought in the last two seasons. However, competition from large crops in Canada, Europe and the Black Sea remain factors keeping a lid on prices to some destinations,” Mr Richardson said.

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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