Wheat pool re­turn cut

Townsville Bulletin - - Investor -

GRAINS mar­keter AWB Ltd has cut its es­ti­mated pool re­turns for wheat in the 2010/ 11 sea­son fol­low­ing a sus­tained fall in prices. AWB gen­eral man­ager of com­modi­ties, Mitch Mori­son, said the mar­ket had trended lower and was now well down from its highs in Jan­uary and Fe­bru­ary. ‘‘ There is a range of fac­tors con­tribut­ing, in­clud­ing concern over the global eco­nomic re­cov­ery, a lack of fresh bullish news to drive mar­kets and the un­rest in the Mid­dle East,’’ Mr Mori­son said. ‘‘ Now we have seen the ef­fects of fund man­agers liq­ui­dat­ing long wheat po­si­tions.’’

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.