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US futures rally raises wheat pool estimate.

Europe Intelligence Wire

| February 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

AWB Ltd has increased the estimated pool returns for hard wheat in the 2005-2006 National Pool this week, following a recent rally in US wheat futures, reports Lloyd's List DCN in Australia.

Hard wheat pay grades for the 2005-2006 Number 1 Pool have been increased by $2 per tonne to $190't. Meanwhile, noodle grades have been increased by $4't (FOB, GST exclusive).

The 2004-2005 Pools, which are drawing toward finalisation, remained unchanged.

AWB national pool manager David Johnson said US wheat futures had jumped out of their previous trading range in the past two weeks, rallying relatively sharply to their highest level for some months.

At this time of the year, the market tended to be quite ...

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