GRAINCORP has increased its estimated pools returns for the 2011/12 wheat harvest by between $5 and $15 per tonne, depending on grade and port zone.
This increase reflects the current market situation and GrainCorp Pools’ hedging campaign thus far, a spokesman for GrainCorp said.
According to GrainCorp pools’ manager Stuart Clarke, the company was in a position to revise its pool estimates due to the recent market rally.
“Dry, hot weather through the South American corn regions is causing concerns over potential crop reductions, with the threat of tightening global feed grain supply," Mr Clarke said.
"This has a knock on effect to the wheat market with the potential increase in demand for wheat into stockfeed rations globally."
Revisions have been made for most grades, with the largest revisions made to FED1, SFW1 and ASW1 due to the potential increase in demand for these grades.
NSW ASW1 EPRs have been revised up to $250 per tonne free on board (FOB), representing an increase of $12 per tonne for Port Kembla zone and an increase of $4/MT for Newcastle zone.Victorian ASW1 EPR’s are up $14 per tonne to $250 per tonne FOB.South Australian ASW1 EPRs are up $16 per tonne to $252 per tonne FOB.Western Australian ASW1 EPRs are up $18 per tonne FOB to $256 per tonne FOB.FED1 and SFW1 EPRs have been increased by $8-$13 per tonne across all states 
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