| ||Estimated Pool returns riding market wave|| ||
AWB National Pool estimates were lifted again today, in line with continued strength in the international wheat market.
New season estimated pool returns have increased by $5 per tonne, adding to historically high price estimates, with benchmark APW now at $262 per tonne (FOB, GST exclusive) for the coming harvest. Estimates for 2002/03 Feed wheat were increased $10/t, and are now $195/t.
General Manager AWB National Pool Sarah Scales said the change reflected the sustained strength in international markets, which was largely a factor of tightening world supplies.
"During the past fortnight we have seen the crop forecasts for Canada and Australia reduced further, alongside the already significantly reduced crop expectations for the US," Ms Scales said.
"The fact that we have got a reduced production forecast in what are major traditional wheat exporters has fuelled the futures market in the past months, and that strength is being reflected in the AWB National Pool," Ms Scales said.
There have been two changes to base rates for the 2001/02 Pool, with ASF1 (Soft) and ASWN (Noodles) increasing by $3/t.
The next AWB National Pool update is Monday, September 16th at 5pm.
AWB National Pool estimates