AWB estimates 2009-10 wheat crop poll returns A$310-A$320/tonne

Pool returns on benchmark Australian Premium White grade wheat produced from a crop to be harvested late in 2009 are projected in a range of A$310 (US$249.31) to A$320 (US$257.29) a tonne, free on board, agribusiness AWB Ltd. (AWB.AU) reported Friday (June 26).

AWB said it calculates estimated returns on its collective sales pools by balancing the best information about international wheat production, Australian crop predictions, world grain consumption patterns and possible currency fluctuations.

"Sowing of the Australian crop is complete in most regions of Australia with similar coverage to previous years, but good winter and spring rains are needed if yields are to meet potential," AWB's Australian Commodity Management unit spokesman Stuart Richardson said in a statement.

Estimated FOB returns on wheat produced in the 2008-09 crop year ended March 31 are at A$332/tonne for AWB's Eastern Pool and A$327/tonne for its Western Pool, according to the statement.