AWB has announced a guaranteed access date for contracting into the 2004/05 season AWB Basis Pool.
This means growers have certainty that the AWB Basis Pool will remain open until the guaranteed access date. Beyond the Guaranteed Access Date, the Basis Pool may close without notice, in order to protect pool value and safeguard participants.
Growers have the option of taking out a Basis Pool contract of 952t or multiples thereof with AWB by contacting their local regional office or the AWB Grower Service Centre on 1800 054 433.
AWB Limited’s Group General Manager Trading, Peter Geary, said many Australian growers were seeking marketing tools for price risk management to take advantage of commodity and currency hedging opportunities.
“AWB Basis Pool allows growers to be more active in generating their own returns by managing their own risk, and the opportunity to capture a wheat price which specifically suits their business,” Mr Geary said.
AWB Basis Pool gives growers the opportunity to access the benefits of the active management of AWB National Pool and the Single Desk system, combined with the flexibility to choose the timing of their wheat futures and currency hedging.
“With AWB Basis Pool growers can hedge wheat futures and foreign exchange risks as they choose, and still take advantage of the benefit of premiums AWB achieves from wheat sales in the international market through the basis component. In the current market environment of a strong US basis and carry in the futures market, the Basis Pool result is looking positive.” Mr Geary said.
AWB RiskAssist offers a complete service to complement the Basis Pool, including futures brokerage, foreign exchange risk management, financing of hedge positions and balanced grain marketing advice. AWB RiskAssist holds an Australian Financial Services Licence.
AWB RiskAssist are currently offering special rates for their all-encompassing service, for more information contact your local Grain Marketing office or call RiskAssist direct on 1300 666 011.
The Guaranteed access date for the 2004/05 season Basis Pool for all port zones is 5:00pm EST, Friday 29th October, 2004.