ABB grain pools estimated returns placed lower

Australian agribusiness ABB Grain in its latest national pools update showed a reduction in estimated returns for wheat, barley and canola in the respective No.1 pools.

The No.2 barley pool estimates are unchanged.

The estimated pool return for wheat is forecast to be down A$3 to A$313-$322 per tonne. Barley is estimated at A$246-$256 per tonne, down A$2. Canola is estimated down A$10 to A$520-$540.

ABB Grain's pools manager, Anthony Fitzgerald, said the recent sustained rally in the Australian dollar had resulted in downward pressure on the estimated pool returns.

Fitzgerald said estimated grade spreads however remain unchanged.

US$1 = A$1.23962 (Jul 1)