• You will need to login or register before you can post a message. If you already have an Agriville account login by clicking the login icon on the top right corner of the page. If you are a new user you will need to Register.

Announcement

Collapse
No announcement yet.

AWB wheat prices stronger in past week...

Collapse
X
Collapse
 
  • Filter
  • Time
  • Show
Clear All
new posts

    AWB wheat prices stronger in past week...

    Thalpenny,

    The AWB put out this media release:

    08/07/2002, Strengthening market captured in National Pool,
    AWB Media Release
    AWB has lifted its National Pool estimates almost across the board today, capturing gains made in international markets with considerable increases in both old and new season estimates.
    Estimated returns for 2002/03 milling grade wheat were increased by $10 per tonne (FOB, GST Exclusive), taking benchmark APW to $230/t, AH to $242/t and APH to $254.50/t.
    General Manager AWB National Pool Sarah Scales said AWB was in a position to increase it’s Estimated Pool Returns following firm rallies in the futures and cash markets.
    "AWB has been able to capitalise on the upward movement in the market, bolstering the Estimated Pool Returns being offered to Australian growers," Ms Scales said.
    "We have seen strength in the entire US grain complex, with the market focused on weather concerns for the corn, soybean and spring wheat crops in the US, and potential production problems for the wheat crops in Canada and Argentina.

    "As a result, in the past fortnight there have been some significant gains in both the Chicago Board of Trade and Kansas City wheat futures, and we expect continuing volatility as corn pollination and spring wheat production unfolds in the coming weeks.
    "It has also been encouraging to see prices of some of the Eastern European origin wheat starting to firm, albeit from a relatively low base," Ms Scales said.
    The biggest increase in new crop prices was with ASWN - the estimate increased by $14/t, to $254/t - with support from stronger US Pacific North West wheat values relative to wheat from the US Gulf.
    Estimates for most milling pay grades in the 2001/02 AWB National Pool were also increased, with grades such as APW and APH up $5/t.


    Is the CWB capturing these increases as well, if you are, why not tell us about it?

    It looks like AWB new crop prices are up about $20/t in the past 2 weeks, what is happening at the CWB?

    #2
    Jul 10, 2002 (The Australian Financial Review - ABIX via COMTEX) -- The global wheat market has picked up in mid-2002, after four lacklustre years. This is being welcomed by Australian wheat growers, who are facing lower wheat production and a surging Australian dollar. On 10 July 2002, the price of wheat lifted to $US3.25 per bushel, the highest price in four years. The price of US soyabeans and corns has risen to new highs. This is significant because the US market price drives the international price of grains and oilseeds. The Australian wheat exporter, AWB, has raised its estimate of the national 2002-2003 wheat price to $A230 per tonne. On the other hand, dry conditions in Australia are expected to reduce 2002-2003 wheat production. Lower farm commodity prices will reduce farm income in the same period.

    Publication Date: 11 July 2002

    AWB LIMITED - ASX AWB

    Comment

    • Reply to this Thread
    • Return to Topic List
    Working...