Estimated Pool Returns (EPRs) for the majority of milling grades have remained unchanged this week, with AWB National Pool significantly increasing estimates for new season durum wheat.
EPRs for all durum grades for 2002/03 have jumped by $10/t, with ADR1 now $348.00 (FOB, GST exclusive). Feed estimates were also lifted $10/t to $240/t, with a small adjustment to APH base rates, down $1/t to $337.50/t.
General Manager AWB National Pool, Sarah Scales, said the international market had continued its erratic trend during the fortnight and the Australian dollar had also strengthened.
"Amid that volatility, AWB National Pool remains focused on providing growers clear market signals for them to make informed marketing decisions," said Ms Scales.
"While the Australian drought is driving the domestic cash market, internationally there are indications that some balance will return to the market for the 2002/03 marketing year and this is factored into AWB National Pool estimates," said Ms Scales.
Ms Scales said the increase in the EPRs for durum reflected a generally positive market outlook for quality durum grain.
"A reduced crop in Canada and continuing good demand for quality durum has driven the increase in estimated returns for those grades," said Ms Scales.
"We have also increased the estimated pool returns for SASW, the new, low protein noodle segregation in Western Australian," said Ms Scales.
Ms Scales said a major influencing factor for prices at the moment is the progression of the US winter crop due for harvest in 2003, which looks promising, although requires further rain.
Changes to 2001/02 EPRs include a $5/t increase in ASF1, to $280.50/t and a $3/t increase for ASWN, to $288/t.
The next AWB National Pool update will be released at 1pm Monday 11th November 2002.