AWB...It didn't VANISH???!

[TOM4CWB]

Charlie;

It is amazing that all the 'rhetoric' and grovelling... over the requirement of a 'single desk' for survival... vanished!

Interesting report:

"MELBOURNE, AUSTRALIA — AWB on Dec. 12 announced its first shipment of wheat under the new wheat marketing system has set sail for the Persian Gulf.

The 44,000-tonne shipment on board the MV Curia departed the Port of Geraldton and is bound for AWB customers in Bahrain and Sharjah.

AWB General Manager Australian Commodities Stuart Richardson said the shipment marked an historic moment for AWB as it completed the transition to a highly competitive Australian wheat export market.

"Australia’s wheat marketing system has gone through a significant change with the introduction of competition in wheat exports," Richardson said. "AWB is looking forward to the challenge of competing in the new market, and we will be putting every effort into ensuring that both producers and consumers of Australian wheat get the best possible value when they choose to do business with AWB."

[TOM4CWB]

Where are you President WHITE???

Close pools to retain value?

HOW STRANGE!!!

Charlie our CWB is decades behind... in risk management...

But why should they worry... up to a 30% bonus is on the way (to CWB Managers)... for blowing our grain assets out... as long as they are spending 'enough' on PR programs...

P. R. Programs that tell us we are fools to look for premium values...

That the CWB has the 'power' to meet or beat the PRO... THIS 'premium' CWB self determined measure of greatness...

And everyone else that provide better prices to their growers... ARE CHEATING!

WOW!

I must be an Total IDIOT!

I DON"T BELIEVE (and have no indication) that the CWB is maximising our asset returns!

FROM THE IMPOSSIBLE AWB down under... a company that couldn't exist without the "single desk"!!!

"EASTERN POOL - Estimated Pool Return 2008/09 AWB Pool
($/t FOB, GST exclusive):



"Media Release: AWB lifts Wheat Pool returns, closes durum (31/12/2008)



AWB today increased its 2008/09 Wheat Pool estimates, lifting the benchmark APW grade $14 per tonne in the Western Pool and $17 per tonne in the Eastern Pool, with a range of adjustments to estimates for other grades. Durum wheat is the exception to this statement, with the market declining, and accordingly AWB has closed its durum pools in all delivery zones.

AWB General Manager Australian Commodities Stuart Richardson said the futures market for milling wheat had rallied substantially since the last pool update. Supporting this was that the exchange rate for the Australian dollar was slightly lower than at the time of the last pool update.

“Our estimates for milling wheat grades reflect the increase in current global milling wheat values,” Mr Richardson said.

“AWB continues to make physical sales to both the domestic and export markets. We have many existing international wheat customers looking to secure Australian wheat from AWB, so our shipping program is becoming well established.

“In contrast to milling wheats, the durum market has declined substantially and we have closed our pools to preserve value for those growers who have already committed their durum to the pools.

“Australian durum supplies are tight due to the poor finish in some durum producing areas. Prior to the recent decline, the domestic durum market rallied above international prices supported by this tight local supply and further buoyed by traders attempting to purchase durum to fulfil their commitments.

“Over the last few weeks the durum price has fallen as traders appear to have either paid up to purchase durum to satisfy their commitments, or washed out against the now cheaper Canadian durum which has been sold more aggressively into the international market to reduce Canada’s surplus,” Mr Richardson said.

AWB reminds growers that any of AWB’s pools can close at any time. Growers can secure access to AWB’s pools by contracting into them. This can be done through a local AWB Grain Marketer, or through AWB’s Grower Services Centre."

Pool Pay Grade Base Rate
Estimated Pool Return
Change



APH2 (13% protein)
$369
Up $17

AH1 (13% protein)
$364
Up $17

AH2 (11.5% protein)
$354
Up $17

AUH2 (Flat protein)
$337
Up $15

APW1 (10.5% protein)
$344
Up $17

ASW1 (Flat protein)
$329
Up $22

AGP1 (Flat protein)
$319
Up $17

AUW1 (Flat protein)
$294
Up $17

HPS1 (Flat protein)
$314
Up $12

AH9 (Flat protein)
$269
Up $17

FED1 (Flat protein)
$254
Up $7

DR1 (Flat protein)
$510
Down $25

DR2 (Flat protein)
$468
Down $37

DR3 (Flat protein)
$413
Down $42

WESTERN POOL - Estimated Pool Return 2008/09 AWB Pool
($/t FOB, GST exclusive):





Pool Pay Grade Base Rate
Estimated Pool Return
Change



AH1 (13% protein)
$358
Up $14

AH2 (11.5% protein)
$348
Up $14

AUH2 (Flat protein)
$333
Up $14

APW2 (10% protein)
$338
Up $14

ANW1 (Flat protein)
$337
Up $14

ANW2 (Flat protein)
$318
Up $14

APWT (10% protein)
$338
Up $14

ASW1 (Flat protein)
$323
Up $19

AGP1 (Flat protein)
$313
Up $14

AUW1 (Flat protein)
$288
Up $14

SFT1 (Flat protein)
$358
Up $24

FED1 (Flat protein)
$248
Up $14

DR1 (Flat protein)
$480
Unchanged $0

DR2 (Flat protein)
$450
Unchanged $0

DR3 (Flat protein)
$400
Unchanged $0













WESTERN POOL - Estimated Number Two Pool Return 2008/09 AWB Pool
($/t FOB, GST exclusive):





Pool Pay Grade Base Rate
Estimated Pool Return
Change



ANW1 (Flat protein)
$317
Up $14

ANW2 (Flat protein)
$302
Up $14

http://www.awb.com.au/investors/companyannouncements/current/AWBliftsWheatPoolreturnsclosesdurum.htm

[AdamSmith]

Good post Tom, of course you can't compare this to Canada (actually it's as close as a comparison as possibly can exist, but I'm sure that will be the "talking points" from the cwb and its brethren)

The CWB can exist without its monopoly and can continue to offer its services to those who desire to do business with it. But just like Australia it will have to be legislated to compete.

We’ve gone through the “director election charade” and we can safely say that we now know exactly what we have already known for the last ten years. The farm community is divided between apathy and two polarizing positions.

Now its time for Steve and Ritz to quit F bombing around and get the votes required to pass competitive grain marketing legislation. It’s time for Ritz to grow up and start talking to Liberal MP’s, and find the dozen votes needed to pass the legislation. The time for childish ridicule is past. Dust off the task force report, rework it to fit the circumstances (wheat and barley must be done at the same time), go to Iggy and John McCallum, act like adults, and GET ER DONE.

The CWB will never initiate it themselves, even if our side wins more directors. It must come from Ottawa.

Farmers can decide what becomes of the cwb itself, but the monopoly is for Ottawa to decide alone.

[TOM4CWB]

A. S.;

Will be interesting to ask President White tomorrow... a few questions!

WCWGA in Winterpeg...7-9

See you there!

[malleefarmer]

Tom the AWB have turned into a super competitive company, there pools lead the pack by far and there cash prices are usually the top of the tree as well.
Would suggest they still got 65 to 70% of the wheat in aust.

Marketing nothing absolutely nothing has changed if you wish to pool wheat you can with the choice of around i think 14 pools to choose from and cash markets with probably 25 buyers

cheers

[dave4441]

makes me tingle