AWB updates wheat pool price

by World Grain Staff
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MELBOURNE, AUSTRALIA — The Australian Wheat Board’s (AWB) Estimated Pool Returns (EPRs) for the AWB 2012-13 Wheat Pools remain unchanged following a price review despite a recent softening in U.S. wheat futures.
Benchmark grade APW2 remains at A$360 a tonne (FOB, excl GST) and noodle grade ANW1 is A$380 a tonne (FOB, excl GST) in the Western pool, APW1 is A$350 a tonne (FOB, excl GST) in the Eastern pool and APW1 is A$347 (FOB, excl GST) in the South Australian pool.
AWB’s Richard Williams said, “Despite U.S. wheat futures softening over the last week we have left the EPRs unchanged as globally Australian wheat remains competitively priced. Competing factors of the tight global supply and demand situation, against a lack of new export demand for US wheat, are keeping global prices relatively steady,” Williams said.  “While U.S. wheat futures have come under pressure in the past week, corn is holding steady and wheat prices should find good support at current values.
“There is currently good demand for Australian wheat and with limited Russian wheat exports and the E.U. market tightening rapidly, the focus of the wheat market will be on the traditional exporters, Australia, US, Canada and Argentina, going forward.”
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