VITERRA and AWB Limited have released details of their respective pre-harvest pools.
Viterra is offering cash advances in mid-October to growers committing tonnage to the pool as a major change to previous operation of its pre-harvest pools.
It has also included a provision in the event of drought for growers to cut their tonnage commitment in half with no consequent penalty if they advise the company by October 15 in a change in their circumstances.
Viterra pool manager Michael Reeves said if there was total crop failure and growers faced a washout, the washout differential would be capped at $40/tonne.
Mr Reeves said the initial target pool return for its pre-harvest pool was $265/tonne, FOB, for Australian Premium White wheat.
Growers have until the end of July to commit to the Viterra pre-harvest pool.
AWB has followed Viterra's announcement, saying it would provide a $15/tonne premium to growers who committed tonnage early to its pools.
At current estimated pool returns of $254/tonne, FOB, for APW wheat in eastern Australia, that amounted to a price of $269/tonne.
AWB's pools also have a maximum $20/tonne washout fee if the crop fails and growers cannot meet their tonnage commitment.
AWB commodities general manager Mitch Morison said this was the earliest AWB had ever offered its early commitment premiums.
The closing date to take up AWB's early commitment pool offer is June 18.
