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Firmer World Markets Boost AWB Returns
DONALD - Jul 24-02 - SNS -- The Australian Wheat Board boosted its projected returns for the coming 2002-03 wheat marketing pool between A$5 and $12 per metric ton (MT).
Rising international values allowed the marketing board to raise estimated Pool Returns for 2002-03 APW pay grade have been increased by $10 MT, to $240 MT (FOB, GST exclusive), with similar increase also in APH and AH. Estimates for ASWN have increased by $12 MT, to $266 MT.
General Manager AWB National Pool Sarah Scales said global weather conditions had remained a key driver for the grain market during that time.
"US futures have hit four year record high levels during the past fortnight, following the release of the USDA monthly report which reduced production forecasts for a number of key wheat producing regions," Scales said.
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