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Australian Projected Pool Returns Hiked
SYDNEY - Jan 3/06 - SNS -- Recent rallies in U.S. wheat futures helped lift projected returns for marketing pools managed by Australia's wheat marketing board, AWB Limited.
For the 2005-06 Pool, EPRs for most pay grades are up by at least $3 per metric ton (MT). Benchmark APW is up $3 MT to $191 MT (FOB, GST exclusive), while APH is up $3 MT to $228.50 MT. The EPR for Feed is up $5 MT to $158 MT.
Meanwhile with the exception of durum pay grades the 2004-05 no.1 and no.2 pools have remained unchanged since the last update. 2004-05 pool Durum base rates have been adjusted slightly for both No.1 and No.2 Pools.
General Manager, AWB International, Sarah Scales, said while the futures market had rallied in recent weeks, the basis had declined over the same period.
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