AWB keeps Australian wheat pool sales return forecast unchanged

AWB left its 2009 benchmark wheat sales return forecast unchanged as higher US wheat futures prices offset the impact of a stronger Australian dollar, Australia's AWB said on November 16.

According to AWB, the return of high-quality white wheat (10.5% protein content) in the pool in eastern Australia is expected to be A $255 per tonne, FOB price. The return of wheat sales in the western pool is estimated at A $250 per tonne.

The return of wheat sales in the western pool is expected to be A $325 per tonne in 2008-09 (April to March), unchanged from the previous estimate, while the wheat sales return estimate in the eastern pool is also stable at A $330.

The fundamental situation of the global wheat market remains unchanged, with ample supply and limited demand. Overseas buyers are keeping a close eye on the wheat harvest in Australia.