No Change in AWB Pool Outlook

SYDNEY - Mar 3/08 - SNS -- The Australian wheat marketing board, AWB LImited, left its pool return outlooks for wheat delivered in 2007-08 unchanged due a significant appreciation of the Australian dollar against the US dollar over the past fortnight, which offset any rises in international wheat prices and US futures.

AWB General Manager National Pool, David Johnson, said, "The strength of the Australian dollar against the US dollar is an important factor regarding Australian wheat export returns as the majority of international wheat sales are conducted in US dollars.

"The unprecedented volatility on US wheat futures markets and high international cash prices has resulted in many international buyers sitting on the sidelines as they reconsider their total wheat usage and buying patterns.

"While the 2007/08 export marketing program continues as planned we are starting to see more and more importers, mainly in Asia, reducing their wheat imports due to the current high prices."

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