AWB 2009-10 wheat pools improve

by World Grain Staff
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MELBOURNE, AUSTRALIA — Estimated pool returns (EPRs) for AWB’s 2009-10 wheat pools have gained with the appreciation in world prices in recent weeks.

Benchmark APW wheat grades are up by A$5, with APW in the western pool now at A$247 a tonne, and A$245 a tonne (FOB, excl GST) in the eastern pool.

AWB General Manager Commodities Mitch Morison said that recent market commentary in the media related to production problems for new season crops, however the improved prices would benefit unsold stocks of the previous season’s wheat as well.

"The wheat market has lifted strongly on the back of increasing concerns about drought-induced supply shortages in Russia, Kazakhstan and northern Europe," Morison said.

"Our 2009-10 season pools sales program is well advanced, however as it is a progressive execution program over many months we have been able to capture some upside from the recent rally to benefit pool participants," Morison said.

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