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Wheat outlook unchanged: AWB
10 Jun 2004
AWB Ltd's MD Andrew Lindberg says he's still comfortable with profit forecasts and Winter wheat harvest estimates of between 21 to 24 million tonnes. Mr Lindberg said there has been good rain in the West but more is still needed in southern New South Wales, Victoria and South Australia. AWB remains on track to report a profit of between $110 million and $120 million for 2003-2004.
This week, the Australian Bureau of Agricultural and Resource Economics predicted a harvest of about 23 million tonnes. ABARE also amended its weather outlook, estimating a 65 per cent chance of normal or above-normal rain this Autumn, compared with its earlier prediction of a 50 per cent chance.
Tradingroom.com.au, 9/6/04.
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