GrainCorp announced it had opened a A$11 (US$9.6) per tonne early commitment option for growers seeking to participate in GrainCorp Wheat Pools for the 2009-10 winter crop harvest.

The Early Commitment Premium is available between 9am AEST September 17, 2009, and 12am AEST September 26, 2009, or until GrainCorp publicly announces that no further Early Commitments will be accepted.

The premium for early commitment will be available to growers participating in the Western Australian, South Australian and Eastern States wheat pools managed by GrainCorp.

GrainCorp Pools Manager Ole Houe said, ''Growers that participate in GrainCorp pools this harvest have six different payment options to choose from, there is a fixed washout fee of A$25 (US$22) per tonne and an early exit option. We have built a lot of flexibility into our pool alternatives this year.''

''Since the removal of the single desk monopoly, the pools market has become very competitive, and growers have a lot more choice. The competition to buy grain from growers is driving innovations like our A$11 per tonne early commitment premium.''

GrainCorp also indicated today that participants in the 2008-09 wheat pools will receive their final payments by the end of October 2009.