Landmark Wheat Shipment in Australia

CHICAGO - Jul 6/06 - SNS -- International agricultural commodity markets maintained their listless tone through Thursday, with little fresh business reported.

On the other hand, a landmark event is taking place in Australia this week, as the country Australian wheat marketing board's monopoly over exports is symbolically broken by the loading of the first cargo of wheat by Wheat Australia Ltd.

The consortium was formed after Iraq banned all dealings with the AWB Ltd. until its role into alleged kick-backs to the Saddam Hussein regime under the UN Food for Oil program is fully examined by an Australian commission.

GrainCorp Ltd., one of the partners in the consortium, is now loading the MV Danae with 50,000 metric tons (MT) of wheat at its Geelong Port terminal.

Unfortunately, Iraq's Trade Minister Abdul Falah al-Soudani has vowed no more Australian wheat will be bought until it apologizes for the killing two his bodyguards inside the ministry by Australian security forces two weeks ago. For its part, Australia will not apologize until a Defense Department report into the incident is completed.

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