AWB 2011-12 wheat pool premiums closing

by World Grain Staff
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MELBOURNE, AUSTRALIA — The AWB 2011-12 pool will close its A$10 a tonne early commitment premium (ECP) for its wheat pool in the Western Australian (WA) Geraldton and Freemantle port zones at 5 p.m. on Sept. 23.

AWB’s Jon White said that with the WA wheat crop outlook boosted by recent rains, it is the appropriate time to close the ECP for the 2011-12 season wheat pool in the Western Australian Geraldton and Freemantle port zones ahead of the following week’s harvest shipping capacity auction.

“There are always people who want to keep their options open on offers like this until the last minute, but to participate in the A$10 a tonne benefit; I’d encourage anyone who wants to collect our early commitment premium to call either their local AWB grain marketer or our farmers services hotline without delay,” White said.

“The early commitment program is an important part of our pool management strategy, with substantial volumes already contracted and work underway to plan logistics and manage volatility.”

AWB’s ECP for the 2011-12 season wheat pool remains open in all other port zones however can close at any time as AWB reviews its progress against targeted volumes.

AWB encourages growers to check the AWB website and familiarize themselves with the terms and conditions for its 2011-12 season wheat pools, before entering into wheat supply contracts.
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