AWB Lifts 2003 Crop Wheat Pool Estimates

SYDNEY - Dec 1/03 - SNS -- This season's wheat marketing pools are now expected to return significantly better returns to the grower than last week, with the Australian Wheat Board (AWB) lifting Estimated Pool Returns (EPRs) for the 2003 AWB National Pool between AU$3 and $12 per metric ton (MT).

The majority of 2003 pay grades have gone up $6 MT, taking benchmark APW to $224 MT, and APH to $243.50 MT. The EPR for AUH has been increased by $7.75 MT to $230.75, while durum grades have been increased by $3 MT, taking APDR to $266 MT. Feed has also increased by $12 MT to $185 MT.

General Manager, AWB National Pool, Sarah Scales, said the market had been strong in the past week, with US futures gaining strength from two weeks of strong US export sales after a technical correction last week.

"As we move into harvest, we are also getting a clearer picture of the potential quality profile of the crop which is reflected though EPR and Golden Rewards scales for the AWB National Pool," Scales said.

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