AWB has released its first full schedule of estimated pool returns (EPRs) for all wheat grades in its 2009/10 season wheat pools, to provide growers with best available information on how the market is likely to value quality this year. Until today, previous estimates appeared as a price range for three key grades, whereas AWB has now provided estimates for the full range of 13 wheat grades for its eastern pool and 12 grades in its western pool.

Benchmark grade APW wheat now has an EPR of $263 a tonne in the eastern pool and $255 a tonne in the western pool (FOB, excl GST).

AWB General Manager Commodities, Mitch Morison, said that while he was pleased to be able to release a full schedule of pool estimates, the prices growers would receive for this harvest faced downward pressure from the continual appreciation of the Australian currency, in a year when world wheat prices had already reduced.

“Australia is expected to have a sizeable wheat export program this year, especially from Western Australia and South Australia. Crops are under more pressure from dry conditions in the eastern states, but this doesn’t change the reality that grower returns will be set by export prices, so the strong Australian dollar is not helpful,” Mr Morison said.

“The commodity itself trades in US dollars and world prices have fallen, which means Australian farmers see a double effect.

“US wheat futures have declined on the back of increased world wheat production estimates and soft demand. Many in the market are looking for something that might spark demand up.

“Growers are understandably reluctant to price much of their grain in this low-price environment, which is why pools offer an attractive marketing option due to their upside potential,” Mr Morison said.

Estimated returns for AWB’s 2008/09 wheat pools are holding steady, with the EPR for APW on $325 a tonne in the Western Pool and $330 a tonne in the Eastern Pool (FOB, excl GST).

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

EASTERN POOL – Estimated Pool Return 2009/10 AWB Pool ($/t FOB, excluding GST):
Pool Pay Grade Base Rate	Estimated Pool Return
APH2 (13% protein)	$281
AH1 (13% protein)	$278
AH2 (11.5% protein)	$271
AUH2 (Flat protein)	$253
APW1 (10.5% protein)	$263
ASW1 (Flat protein)	$256
SFT1 (Flat protein)	$288
AGP1 (Flat protein)	$248
HPS1 (Flat protein)	$233
FED1 (Flat protein)	$228
DR1 (Flat protein)	$315
DR2 (Flat protein)	$285
DR3 (Flat protein)	$255
WESTERN POOL – Estimated Pool Return 2009/10 AWB Pool ($/t FOB, excluding GST):
Pool Pay Grade Base Rate	Estimated Pool Return
AH1 (13% protein)	$271
AH2 (11.5% protein)	$264
AUH2 (Flat protein)	$245
APW2 (10% protein)	$255
ANW1 (Flat protein)	$240
ANW2 (Flat protein)	$230
APWT (10% protein)	$255
ASW1 (Flat protein)	$245
AGP1 (Flat protein)	$240
AUW1 (Flat protein)	$215
SFT1 (Flat protein)	$280
FED1 (Flat protein)	$215

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