| ||Pool estimates remain unchanged|| ||
Monday 22rd January 2001
Pool estimates remain unchanged
AWB (International) Limited today left all price estimates unchanged for both the 1999/2000 and 2000/01 crop pools.
AWB (International) Limited General Manager Peter Geary said after increases in wheat futures values in the lead up to the release of the USDA’s world supply and demand, and crop acreage reports, the market was now consolidating and futures values had steadied.
“The USDA predicted a lower planted acreage for the US 2000/01 season crop. However this had been anticipated by the market such that premiums were built into values prior to the release of the report,” Mr Geary said.
“The market is now waiting for the US crop to come out of dormancy, particularly in regard to any winterkill that may have occurred over the winter period, and until this dormancy period ends, we should continue to see volatility in the US wheat futures market,” said Mr Geary.
He said the increase in values over the past few weeks had added momentum to the export market, with some recent strong export sales of US wheat in the Middle East region.
“AWB has also capitalised on recent strength in the global wheat market with some healthy export sales which have supported our National Pool estimates,” he said.
Golden Rewards matrices reflecting current pool returns are available from AWB’s Golden Rewards poll fax service on 1902 910 020, the 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 5th February 2001 at 5pm EST.
Pool update tables