MELBOURNE, AUSTRALIA — AWB said on July 11 that it has increased estimated pool returns (EPRs) for the 2011-12 AWB Barley Pool by A$2 a tonne on the back of strengthening global grain markets.

“The strong rally in global grain markets over the last two months is on the back of continued dry weather in the US corn belt and crop reductions in the Black Sea,” said AWB’s Richard Williams.

“Australian exports remain solid for all grains and we expect this to continue for the remainder of this season. These factors and reduced global barley stocks are supporting Australian barley prices and this should continue for the back half of the year.

“The 2011-12 AWB Barley Pool’s marketing and sales program is well advanced with strong demand for Australian barley from China.

“We are looking to capture additional value for the remaining unsold barley pool tonnes as prices remain high and solid demand from our international customers continues.”