AWB Lifsts New Crop Price Forecast

SYDNEY - Jul 3/06 - SNS -- The Australian wheat marketing board, AWB LImited, boosted projected returns for most classes of wheat it expects to market in 2006-07 in response to strengthening of the world cash markets.

New season Estimated Pool Returns (EPRs) for benchmark APW is up $4 per metric ton (MT) to $223 MT, APH is up $6 MT to $251 MT and ASWN is up $7 MT to $237 MT. There was no change to the feed grade wheat which remains at $168 MT.

Durum estimates increased as international cash values have rallied as a result of smaller durum crops being planted in Canada and the US. The EPR for ADPR has risen by $5 MT to $230 MT. There has been no change to EPRs for the 2005/06 Pool.

AWB International General Manager, Sarah Scales, said the National Pool had benefited from an increase in US values over the last few weeks following concerns over US weather and the size of the current US wheat crop.

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