| ||Increases to Old Crop Estimates|| ||
AWB (International) Limited today announced a range of increases to its 1999/2000 old crop pool estimates.
AWB (International) Limited General Manager Peter Geary said with the sales and shipping program for the 1999/2000 crop winding to a close, AWB had revised and fine-tuned the estimates for most pools.
“Given that we are now in the closing stages of our 15 month sales program, we now have a clear picture of where we see values heading for the old crop pools,” said Mr Geary.
He said all estimates for the 2000/2001 pools remained unchanged.
“The lack in any new international export demand has kept world wheat values at current levels. While there was a rally in futures prices over the past few weeks, this was short lived. With a good snow covering over the US winter wheat plains, the gains in values were not sustained,” said Mr Geary.
“Since the US winter wheat crop is currently in its dormant stage, trading on the US futures markets has been relatively quiet. Traders are not prepared to make any significant buying moves until there is news on the condition of the US crop. As such, values continue to trade within a narrow range,” said Mr Geary.
Golden Rewards matrices reflecting current pool returns are available from AWB’s Grower Service Centre on 1800 054 433 or from AWB’s website at www.awb.com.au
AWB (International) Limited’s pool estimates are released fortnightly. The next update will be released on Monday 19th February 2001 at 5pm EST.
For more information please contact Jo O’Connell at AWB Limited Public Affairs, (03) 9209 2555 or 0407 310 250.
Pool update tables