AWB will close its 2012-13 wheat pools at 5pm on Thursday, January 31.
AWB’s Richard Williams said closing the pools allowed the company to execute its sales and shipping program with certainty around the volumes and quality.
“This will enable us to effectively market our pool’s wheat and ensure our pool returns to farmers are competitive,” Mr Williams said.
AWB will finalise the pools by the end of November, about three months ahead of normal.
Global wheat prices have been falling during the past few weeks.
But Mr Williams said Australia wheat values had held up relatively well compared with US futures prices.
He said that was indicative of the tighter global wheat balance sheet and the demand for Australian wheat in the world market.
He expected global prices to remain subdued until a clearer picture emerged on northern hemisphere crops.
AWB’s estimated pool returns for most milling grade wheats fell by $7-$10 a tonne.
The EPR for Australian Standard White wheat was reduced by $10 a tonne to $332 a tonne.
