In the week when AWB makes final payments for its record-breaking 2007/08 National Wheat Pool, the estimated returns for AWB’s next highest-priced wheat pools, from the 2008/09 season, are holding steady.

Stuart Richardson of AWB Australian Commodity Management said that AWB’s active currency management program had buffered the pool against the continued appreciation of the Australian dollar.

“Benchmark grade APW is holding steady on an estimated return of $327 a tonne in the Western Pool and $332 a tonne in the Eastern Pool (FOB, excl GST),” Mr Richardson said.

“Our hedging program is managing the currency exposure well, sales are being executed and we continue to receive product inquiry for both bulk and containerised shipments from customers keen to purchase from AWB, all of which is providing support to the pools.

“Prices for wheat from this last harvest were lower than the 2007/08 peak, however they have still been very high by historical standards and, for the moment, this pricing strength looks like flowing on to the 2009/10 crop.

“Wheat futures have gained from US hedge fund activity and nervousness internationally about crop prospects in various countries, all of which is encouraging for Australian growers taking advantage of recent rains to sow their next crops,” Mr Richardson said.

AWB media contact: Ian Desborough 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)	$352	Unchanged
AH1 (13% protein)	$347	Unchanged
AH2 (11.5% protein)	$342	Unchanged
AUH2 (Flat protein)	$325	Unchanged
APW1 (10.5% protein)	$332	Unchanged
ASW1 (Flat protein)	$317	Unchanged
AGP1 (Flat protein)	$307	Unchanged
AUW1 (Flat protein)	$282	Unchanged
HPS1 (Flat protein)	$302	Unchanged
AH9 (Flat protein)	$257	Unchanged
FED1 (Flat protein)	$242	Unchanged
SFW1 (Flat protein)	$272	Unchanged
DR1 (Flat protein)	$510	Unchanged
DR2 (Flat protein)	$468	Unchanged
DR3 (Flat protein)	$413	Unchanged
EASTERN POOL - Estimated Number Two Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
DR1 (Flat protein)	$455	Unchanged
DR2 (Flat protein)	$430	Unchanged
DR3 (Flat protein)	$375	Unchanged
ADRF (Flat protein)	$250	Unchanged
WESTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
AH1 (13% protein)	$343	Unchanged
AH2 (11.5% protein)	$337	Unchanged
AUH2 (Flat protein)	$318	Unchanged
APW2 (10% protein)	$327	Unchanged
ANW1 (Flat protein)	$322	Unchanged
ANW2 (Flat protein)	$307	Unchanged
APWT (10% protein)	$327	Unchanged
ASW1 (Flat protein)	$312	Unchanged
AGP1 (Flat protein)	$302	Unchanged
AUW1 (Flat protein)	$277	Unchanged
SFT1 (Flat protein)	$347	Unchanged
FED1 (Flat protein)	$237	Unchanged
DR1 (Flat protein)	$480	Unchanged
DR2 (Flat protein)	$450	Unchanged
DR3 (Flat protein)	$400	Unchanged
WESTERN POOL - Estimated Number Two Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
ANW1 (Flat protein)	$306	Unchanged
ANW2 (Flat protein)	$291	Unchanged

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