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Wheat silos running dry
17 Sep 2003
AWB (International) Limited hopes to have fewer than 500,000 tonnes of wheat left in storage when the first grain arrives from the new harvest. AWB pool manager David Johnson says that will be the lowest carryover of wheat for many years.
AWB met with WA's Co-operative Bulk Handling last week to discuss reducing the wheat level in its storages by the time the harvest begins in mid-November. WA is virtually the only state carrying large grain stocks, with CBH holding about 2.3 million tonnes, of which wheat accounts for fewer than 1.5 million tonnes.
WA is expecting to produce a record crop, with estimates currently at 13 to 15 million tonnes. AWB is confident the WA carryover will be down to fewer than 500,000 tonnes by harvest. Storages in other states will be virtually empty by then.
This week, AWB (International) reduced its milling grade pool estimates for the 2003-2004 crop by $8 a tonne, due to a weaker international market. Australian Premium White wheat was forecast to return $210 a tonne, FOB, GST exclusive.
Weekly Times, 17/9/03, page 7.
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