AWB has increased Estimated Pool Returns (EPRs) for its 2011/12 AWB Pools benchmark wheat grade APW by $2 tonne, lower wheat grades have be increased by $2 - $3 a tonne however high protein wheat grades remain under pressure and have been lowered by between $2 - $10 a tonne.

AWB’s 2011/12 EPRs for APW wheat is up $2 to $265 a tonne and ANW noodle wheat is up $2 to $278 a tonne in the WA Pool, APW is up $2 to $259 a tonne in the SA Pool and up $2 to $260 a tonne in the Eastern Pool (FOB, excl GST).  

AWB’s Richard Williams said: “While the decline in the Australian dollar is supportive of Australian wheat prices, global wheat values remain volatile and without any clear direction.”

“The recent wheat futures rally was shorted lived and the market has retracted over 50 per cent of the rally and we are now well inside the range which we have been trading for the majority of year.”

“This rally was driven by market concerns over Russian and Australian crop prospects and weather conditions associated with the US corn which resulted in fund managers looking to cover short positions.

Mr Williams said: “Australian high protein wheat grades remain under pressure as US and Canadian spring wheat crops look in excellent condition at this early stage.” 

“This combined with a near record crop in the US of hard red winter wheat and an expected very large North American high protein crop continues to weigh heavily on Australian high protein wheat grades.

“Recent sales to Indonesia, Vietnam and Sudan of various grades of milling and feed wheat ensure our export program remains on track and are supportive of a solid July financial distribution and in line with our harvest estimates,” Mr Williams said.  

WHEAT: EASTERN POOL - EPRs 2011/12 AWB Pool ($/t FOB, excluding GST)
Pool Pay Grade Base Rate	Estimated Pool Return	Change
APH1 (14% protein)	$355	Down $5
APH2 (13% protein)	$350	Down $5
H1 (13% protein)	$318	Down $5
H2 (11.5% protein)	$272	Down $4
AUH2 (11.5% protein)	$266	Down $2
APW1 (10.5% protein)	$260	Up $2
ASW1 (Flat protein)	$248	Up $2
SFE1 (Flat protein)	$242	Up $2
AGP1(Flat protein)	$237	Up $2
FED1 (Flat protein)	$236	Up $3
SFW1 (Flat protein)	$236	Up $3
GPSF (Flat protein)	$236	Up $3
AH9 (Flat protein)	$238	Up $3
DR1 (13% protein)	$400	Unchanged
DR2 (11.5% protein)	$380	Unchanged
DR3 (10% protein)	$350	Unchanged
DR9 (Flat protein)	$256	Unchanged
WHEAT: SA POOL - EPRs 2011/12 AWB Pool ($/t FOB, excluding GST)
Pool Pay Grade Base Rate	Estimated Pool Return	Change
H1 (13% protein)	$297	Down $10
H2 (11.5% protein)	$271	Down $3
AUH2 (11.5% protein)	$267	Unchanged
APW1 (10.5% protein)	$259	Up $2
ASW1 (Flat protein)	$248	Up $3
AGP1(Flat protein)	$240	Up $3
FED1 (Flat protein)	$239	Up $3
FEDG (Flat protein)	$223	Up $2
SFW1 (Flat protein)	$239	Up $3
GPSF (Flat protein)	$239	Up $3
AH9 (Flat protein)	$242	Up $3
DR1 (13% protein)	$393	Unchanged
DR2 (11.5% protein)	$373	Unchanged
DR3 (10% protein)	$343	Unchanged
WHEAT: WA POOL - EPRs 2011/12 AWB Pool ($/t FOB, excluding GST)
Pool Pay Grade Base Rate	Estimated Pool Return	Change
H1 (13% protein)	$305	Down $10
H2 (11.5% protein)	$290	Down $7
AUH2 (11.5% protein)	$273	Unchanged
APW2 (10% protein)	$265	Up $2
APWN (10% protein)	$265	Up $2
ANW1 (10.5% protein)	$278	Up $2
ANW2 (Flat protein)	$255	Up $2
ASW1 (Flat protein)	$257	Up $2
AGP1 (Flat protein)	$246	Up $1
AUW1 (Flat protein)	$244	Up $3
SFT1 (Flat protein)	$247	Up $2
FED1 (Flat protein)	$244	Up $3
FED2 (Flat protein)	$199	Up $3

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