| ||Pools steady despite market slip|| ||
AWB (International) Limited’s (AWBI’s) National Pool estimates remain unchanged this week, despite the steady slip in the futures market throughout the second half of January.
AWBI General Manager Sarah Scales said AWBI had been able to hold its estimates steady on the back of good sales of Australian wheat, and a slight decline in the value of the Australian dollar.
Benchmark APW for 2001/02 remains at $247 per tonne (FOB, GST exclusive), APH at $276.50/t, and ADR1 at $346/t.
Ms Scales said the past two weeks had brought mixed news in terms of global wheat supply.
“We have seen much needed snow and rain fall in key hard red winter wheat states in the US, which increases prospects for their wheat crop. At the same time, expectations remain high for the European Union wheat crop, which is expected to exceed 100 million tonnes,” Ms Scales said.
“On the other hand, forecasts for the Argentinean crop have been reduced recently to below 16 million tonnes, and the Canadian wheat growing areas have generally remained quite dry, although the crop there is yet to be sown,” Ms Scales said.
Ms Scales said AWB was progressing well in its sales and shipping program, with the large Australian wheat harvest now very near complete.
The next Pool Update will be issued on Monday 18th February 2002, at 5pm.
AWB Pool Update 04/02/02