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Australian Wheat Pool Outlook Unchanged
DONALD - Mar 5/01 - STAT -- Australia's projected returns for its current and old crop wheat pools were left unchanged in the organizations latest review of market conditions.
AWB (International) Limited General Manager Peter Geary said, "Wheat futures were oversold after funds built up historically large short positions. A combination of technical factors and the fact we are moving into a traditionally volatile time of the year saw the market react with a rally last week.
"Our marketing program has been progressing at a good pace and the outlook for last seasons crop from here on in is positive," Geary said.
The 2000-01 National Pools remain unchanged, with the benchmark APW grade FOB price at A$231 per metric ton (MT) GST inclusive. The new season pool estimate, announced last week by AWB Chief Executive, Andrew Lindberg, remains at $227 to $237 including GST (approximately $206-215 GST exclusive).
All estimates for the 1999-00 pools remain unchanged.
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