| ||Media Release: AWB 2009/10 wheat at $310-320 a tonne|| ||
AWB’s opening estimate of pool returns for benchmark grade APW wheat from the 2009/10 season is $310-320 a tonne (FOB, excl GST).
AWB’s Australian Commodity Management spokesman, Stuart Richardson, said this estimate of pool returns would give growers some of the price information needed to factor into planning their grain marketing for the 2009/10 harvest.
“Grain and financial markets are still volatile and growers need to be aware of the issues likely to impact their returns in the coming season,” he said.
“The northern hemisphere wheat harvest is well established with early crops being harvested in the United States, European Union and elsewhere, giving a reasonable sense of likely world production.
“However, while production is expected to be lower than last year’s record crop, there is still plenty of time for rain in the major exporting countries to boost maturing crops and lift yields.
“Sowing of the Australian crop is complete in most regions of Australia with similar coverage to previous years, but good winter and spring rains are needed if yields are to meet potential.”
AWB calculates pool estimates by balancing the best information about international wheat production, Australian crop predictions, world grain consumption patterns and possible financial currency fluctuations. All of these impact grower returns and pool estimates are updated regularly.
“Grain marketing is not what it used to be. Growers need to treat their grain harvest much as they would any major investment and look to diversify their risk – our pools and cash accumulation products for the 09/10 season have been designed to provide growers with the means for optimising returns,” Mr Richardson said.
“Pools provide growers with the confidence of having a professional organisation managing the risk.”
Estimated returns for AWB’s 2008/09 wheat pools are holding steady, with the EPR for APW at $327 a tonne in the Western Pool and $332 a tonne in the Eastern Pool (FOB, excl GST).
AWB media contact: Ian Desborough on 03 9209 2335 or 0418 853 881.
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