WEST PERTH, AUSTRALIA — CBH Grain said on Feb. 29 that it has closed all 2011-12 wheat harvest pools in Western Australia to enable marketing plans to be consolidated and ensure the value for growers is maximized.
The final wheat harvest pools closed in Kwinana, Albany and Esperance on Feb. 24.
The current Estimated Pool Return (EPR) for APW2 is A$265 per tonne.CBH Grain Head of Accumulations Richard Simonaitis said CBH Grain will open a No. 2 harvest pool with an opening EPR of A$240 per tonne with the estimate reflecting the current market environment.
"The market is awaiting confirmation of what impact Northern Hemisphere supply will have on an already burdensome balance sheet," Simonaitis said. "A strong AUD is also causing concern and impacting the return to growers."
The barley harvest pools closed Feb. 17 with current estimates at A$265 per tonne for Baudin malting barley and A$250 per tonne for feed barley.
According to Simonaitis, the barley pools have been well supported by growers and estimated pool returns have remained steady since December 2011.
The canola harvest pool closed Feb. 3 and is positioned well with current equity of A$558 per tonne for CAN1.
"Growers are reminded for future seasons that the risk of pool closures can be managed by utilizing CBH Grain's Guaranteed Access Contract to secure tonnages into any No.1 harvest pool," he said. "Updates on the pools performance and payments will be available throughout the marketing year via CBH Grain's quarterly Pool Talk newsletters.”