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Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

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AWB opens new 2007-08 wheat pool: $350/tonne estimated
AWB has closed its 2007-08 Number 2 National Pool to protect the financial equity of growers who have delivered into the pool.

AWB national pool general manager, David Johnson, said the 2007-08 Number 3 National Pool has been opened for any further wheat deliveries.

The decision was reached after another week of:

• Further falls in wheat prices on the Chicago Board of Trade (CBOT).

• A more positive outlook for big northern hemisphere wheat crops, with no major production concerns on the horizon.

“The 2007-08 National Pool sales and marketing program is progressing well,” he said.

“But we need to ensure we protect the financial equity of growers who have delivered to the pools - US wheat futures hit a five month low this week.

“The decline in market prices (from recent record peaks) reflects the improving outlook for wheat crops around the world.

“The Number 3 pool will be reflective of northern hemisphere new crop prices."

The 2007-08 estimated pool returns (EPR) for benchmark APW grade for the Number 3 National Pool is $350/tonne.

For the 2007-08 EPR for benchmark APW grade for the AWB Number 1 National Pool it is $418/tonne.

“For the Number 2 National Pool, APW is estimated at $399/tonne.”

The focus within the wheat trade has now turned to the northern hemisphere new crop outlook.

Several buyers, including Bangladesh, Tunisia, India, Iraq and Jordan are all in the market for wheat.

But they’re buying only for small parcels to tide them over until the northern hemisphere new crop wheat becomes available, at a $20/tonne discount to 2007-08 prices.

Meanwhile, on the wheat futures market, CBOT December ‘08 futures rose this week to at US850c/bushel, a slight recovery from earlier lows of US841c/bushe
MGR Archive 11.5.2008
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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