Estimated returns for AWB’s 2008/09 wheat pools are holding steady, in a volatile international market.

Stuart Richardson of AWB Australian Commodity Management said that Chicago wheat futures had appreciated strongly during May, although had fallen sharply during early June.

“The futures market reacts to daily events so we are seeing plenty of activity from speculative and index funds,” Mr Richardson said.

“The market is also watching crop development closely, with most major production areas around the globe in average to good shape, with the exception of a serious lack of moisture in Argentina, and some dryness in parts of the Canadian prairies.

“World wheat production in 2009/10 has been forecast around 35 million tonnes less than last season, however last year was a record crop. New season production is still expected to exceed consumption, so buyers have to balance the continued availability of last year’s wheat against likely production this year, region by region.

“Our 2008/09 season pools are selling well, with benchmark grade APW holding steady on an estimated return to growers of $327 a tonne in the Western Pool and $332 a tonne in the Eastern Pool (FOB, excl GST),” Mr Richardson said.

AWB media contact: Ian Desborough 03 9209 2335 or 0418 853 881.

EASTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
APH2 (13% protein)	$352	Unchanged
AH1 (13% protein)	$347	Unchanged
AH2 (11.5% protein)	$342	Unchanged
AUH2 (Flat protein)	$325	Unchanged
APW1 (10.5% protein)	$332	Unchanged
ASW1 (Flat protein)	$317	Unchanged
AGP1 (Flat protein)	$307	Unchanged
AUW1 (Flat protein)	$282	Unchanged
HPS1 (Flat protein)	$302	Unchanged
AH9 (Flat protein)	$257	Unchanged
FED1 (Flat protein)	$242	Unchanged
SFW1 (Flat protein)	$272	Unchanged
DR1 (Flat protein)	$510	Unchanged
DR2 (Flat protein)	$468	Unchanged
DR3 (Flat protein)	$413	Unchanged
EASTERN POOL - Estimated Number Two Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
DR1 (Flat protein)	$455	Unchanged
DR2 (Flat protein)	$430	Unchanged
DR3 (Flat protein)	$375	Unchanged
ADRF (Flat protein)	$250	Unchanged
WESTERN POOL - Estimated Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
AH1 (13% protein)	$343	Unchanged
AH2 (11.5% protein)	$337	Unchanged
AUH2 (Flat protein)	$318	Unchanged
APW2 (10% protein)	$327	Unchanged
ANW1 (Flat protein)	$322	Unchanged
ANW2 (Flat protein)	$307	Unchanged
APWT (10% protein)	$327	Unchanged
ASW1 (Flat protein)	$312	Unchanged
AGP1 (Flat protein)	$302	Unchanged
AUW1 (Flat protein)	$277	Unchanged
SFT1 (Flat protein)	$347	Unchanged
FED1 (Flat protein)	$237	Unchanged
DR1 (Flat protein)	$480	Unchanged
DR2 (Flat protein)	$450	Unchanged
DR3 (Flat protein)	$400	Unchanged
WESTERN POOL - Estimated Number Two Pool Return 2008/09 AWB Pool ($/t FOB, GST exclusive):
Pool Pay Grade Base Rate	Estimated Pool Return	Change
ANW1 (Flat protein)	$306	Unchanged
ANW2 (Flat protein)	$291	Unchanged

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