SYDNEY, AUSTRALIA — GrainCorp announced on Dec. 6 that the company has opened a new pool that will accept wheat below normal milling grades.

The new GrainCorp 2010-11 Special Pool will accept a range of grades, FED1 through FED3, that are expected to be delivered in Queensland, NSW, and Victoria as a result of the current wet harvest conditions.

The company sought to assure growers that due to current international market conditions driven by lower than average production in Western Australia and the export problems being experienced in the Black Sea region, strong export demand existed for GP and FED wheat grades.

GrainCorp said that it had received export sale inquiries from buyers looking for the lower protein and falling number FED graders expected to be received over the next few months.

With the opening of the 2010-11 Special Pool, GrainCorp is providing signal to growers that there is value in non-milling grades, that markets exist for these grades, and that the company will be working to maximize returns to growers who participate in the GrainCorp 2010-11 Special Pool.

GrainCorp has opened a new FED3 wheat grade at the company’s Clifton, Meandarra, Miles, Malu and Warra sites.

An AH9 high protein feed wheat segregation has also been opened across most sites in Queensland, NSW and Victoria.

The company will be examining its ability to offer the FED3 segregation in other areas should wheat being harvested does not meet current FED1 standards.

The FED3 wheat grade will be accepted into the new GrainCorp 2010-11 Special Pool.