AWB today increased its 2008/09 Wheat Pool estimates in Western Australia by $1 per tonne for all major grades, lifting the benchmark APW grade in the Western Pool to $339 per tonne (FOB, excl GST). The estimated pool returns for all grades in AWB’s Eastern Pool were held steady, with APW at $344 per tonne. Durum grades were unchanged in all pools.

AWB General Manager Australian Commodities Stuart Richardson said that wheat futures had rallied since before Christmas, but had dropped heavily earlier this week. AWB’s hedging program had captured the benefit however, which when combined with a positive export sales program and a drop in the Australian dollar meant the pool was unaffected.

“AWB pool returns are strong in part because we are not chasing low price, “market share” business, but focusing on generating value,” Mr Richardson said.

“We are actively managing both commodity and foreign exchange hedging programs supporting our pool returns, with our hedges constantly adjusting as growers continue to transfer their wheat into our pools.”

AWB reminds growers that any of AWB’s pools can close at any time without notice. Growers can secure access to AWB’s pools by contracting into them. This can be done through a local AWB Grain Marketer, or through AWB’s Grower Services Centre.

For grower inquiries please contact your local Grain Marketer, or AWB’s Grower Services Centre on 1800 054 433

Media Inquiries:  Ian Desborough on 03 9209 2335 or 0418 853 881

EASTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
APH2 (13% protein)	$369	Unchanged    $0
AH1 (13% protein)	$364	Unchanged    $0
AH2 (11.5% protein)	$354	Unchanged    $0
AUH2 (Flat protein)	$337	Unchanged    $0
APW1 (10.5% protein)	$344	Unchanged    $0
ASW1 (Flat protein)	$329	Unchanged    $0
AGP1 (Flat protein)	$319	Unchanged    $0
AUW1 (Flat protein)	$294	Unchanged    $0
HPS1 (Flat protein)	$314	Unchanged    $0
AH9 (Flat protein)	$269	Unchanged    $0
FED1 (Flat protein)	$254	Unchanged    $0
SFW1 (Flat protein)	$284	New grade
DR1 (Flat protein)	$510	Unchanged    $0
DR2 (Flat protein)	$468	Unchanged    $0
DR3 (Flat protein)	$413	Unchanged    $0
WESTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
AH1 (13% protein)	$359	Up    $1
AH2 (11.5% protein)	$349	Up    $1
AUH2 (Flat protein)	$334	Up    $1
APW2 (10% protein)	$339	Up    $1
ANW1 (Flat protein)	$338	Up    $1
ANW2 (Flat protein)	$319	Up    $1
APWT (10% protein)	$339	Up    $1
ASW1 (Flat protein)	$324	Up    $1
AGP1 (Flat protein)	$314	Up    $1
AUW1 (Flat protein)	$289	Up    $1
SFT1 (Flat protein)	$359	Up    $1
FED1 (Flat protein)	$249	Up    $1
DR1 (Flat protein)	$480	Unchanged    $0
DR2 (Flat protein)	$450	Unchanged    $0
DR3 (Flat protein)	$400	Unchanged    $0
WESTERN POOL - Estimated Number Two Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
ANW1 (Flat protein)	$318	Up    $1
ANW2 (Flat protein)	$303	Up    $1

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