The majority of AWB 2011/12 season estimated pool returns (EPRs) have decreased by $2 - $7 a tonne following a review of the EPRs.  The exception is durum grades and feed wheat in Western Australian which remain unchanged.

AWB’s 2011/12 EPRs for APW wheat is now $271 a tonne and ANW noodle wheat is $284 a tonne in the WA Pool, APW is now $262 a tonne in the SA Pool and $265 a tonne in the Eastern Pool (FOB, excl GST).  

AWB’s Richard Williams said: “Since our last pool update there has been a significant rise in the Australian dollar and a softening of US wheat futures however we have been able to offset some this negative impacts on wheat prices through the hedging program we have in place.”

“Australian wheat prices continue to remain relatively cheap internationally as Australian farmer selling continues to outstrip international demand,” Mr Williams said.

“Going forward the key factor for Australian wheat prices will be the impact of the northern hemisphere weather over the coming months. 

“The recent USDA report was seen as slightly bearish for US wheat futures due to large global wheat stocks and the market is now firmly focused on possible production loses in major export origins. 

“Freezing temperatures in the Black Sea region and across parts of Europe are causing potential production losses in winter crops which might support higher Australian wheat prices once the full impact is known,” Mr Williams said.

AWB will close its 2011/12 season wheat pool in the Western Australia Albany port zones at 5pm Friday 17th February 2012.  

“With all the 2011/12 season wheat pools closed we are now in a good position to consolidate stocks and refine our export marketing and hedging strategies,” Mr Williams said.

Farmers should contact our grain marketers or call AWB’s farmers services centre on 1800 4GRAIN (1800 447 246) regarding their grain marketing.

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