AWB’s estimated pool return (EPR) for benchmark APW wheat in the eastern pool is up A$48 a tonne to A$362 a tonne, while stockfeed SFW1 is up A$16 to A$290 a tonne and FED1 is up A$2 to A$271 a tonne. In AWB’s western pool ANW1 noodle wheat is up A$52 to A$536 a tonne while APW wheat is up A$42 to A$376 a tonne (FOB, excl GST).
AWB’s General Manager Commodities Mitch Morison said the international wheat market had surged over the past week as consumers began to appreciate just how much Australia’s supply of high-protein wheat was likely to be reduced by wet weather in eastern Australia.
“As might be expected, the market is continuing in strength for high quality wheat, although perhaps the more important news for growers in eastern Australia is that we are seeing a firm export market for stockfeed grades as well,” Morison said.
“Stockfeed wheat SFW1 with its minimum test weight of 70 kg/hl and feed wheat FED1 at a minimum of 62 kg/hl are both marketable grades and we are accepting all we can get into our pool.
“The feed wheat market is holding thanks to significant interest from customers in Asia and the Pacific who would normally source from countries such as Ukraine and Canada. However, the Black Sea region suffered from drought in 2010 and can’t supply.”