AWB closes collective wheat sales pool for 2008-09

Australian agribusiness AWB Ltd. Friday (April 17) said it is closing to new deliveries all its collective sales pools for wheat from the 2008-09 crop year ended March 31.

It won't be opening new pools for deliveries from 2008-09 crops, it said in a statement.

The company didn't say why it was closing all wheat pools from 0700 GMT Friday and didn't say how much wheat it is managing in them.

A manager usually closes out a pool when he believes estimated returns could come under pressure from falling prices in the future, disadvantaging those who have already consigned wheat.

AWB's benchmark Australian Premium White grade of 10.5 percent protein is currently estimated to return A$330 a tone for Western pool and A$335/tonne for the Eastern pool, free on board.