| ||Pool estimates unchanged for 04/05 and 05/06|| ||
AWB has made no change to Estimated Pool Returns (EPRs) this week. Following last week’s release of the full spread of EPRs for the new season National Pool, benchmark APW remains $186/t for 2005/06, while it is $199/t for the 2004/05 AWB National Pool.
AWB International General Manager, Sarah Scales, said international wheat futures had edged lower over the week, with a lack of fundamental support at their previous values.
"The overarching sentiment within the trade is that the global crop is in above average condition, with little in the way of significant supply side disruption to push prices higher,” Ms Scales said.
While commodity futures have edged lower, Australian wheat values have benefited from movements in the Australian – US currency exchange rate, which has weakened slightly during the past two weeks.
As announced last Monday, AWB last week has released pay grade spreads for the 2005/06 season which provides growers with a clearer view on the price spreads between various pay grades. EPRs for 2005/06 base rates include APH at $204/t, ASWN at $188/t, APDR at $212/t and AGP at $175/t.
AWB National Pool has also established four new pay grades, as part of the Golden Rewards - Premium Choice Varieties payment system. Premium Choice Varieties is designed to increase the inherent value of the National Pool wheat stock by encouraging adoption of varieties with the end-use characteristics demanded by our customers The premium grades will attract a flat premium for the accepted varieties for the 2005/06 season.
The next AWB Pool Update will be Monday 20th June 2005.
For further information contact Ryan McKinlay 03 9209 2324 or 0408 347 282