Pools Updates
Viterra finalises 2010/11 wheat pools - 29 March 2012
Viterra's 2010/11 wheat pools have now been finalised with competitive returns to growers.
Marc Cooney, Viterra's Country Sales Manager, said the pool returns were an outstanding achievement considering the volatility in global markets throughout the 2010/11 marketing season.
"We are confident our final pool returns are very competitive for the 2010/11 season and we encourage growers to benchmark our performance against competitor products," he said.
"We would remind growers that with other pool providers now opening early order premium pools, it pays to do some homework to see if the premiums on offer are reflected in final returns."
The final distribution payment will be made to growers this week.
There was considerable fluctuation in both commodities and foreign exchange markets in the 2010/11 grain marketing year. Production issues in the Russian, Ukrainian and US crops saw grain prices in the second half of 2010 increase significantly. Lower global production (in particular for corn) coupled with strong demand, meant prices in early 2011 remained relatively high.
The second half of 2011 brought improved northern hemisphere crops which resulted in the lifting of Russian and Ukrainian export restrictions. This led to a decline in global grain prices. Historically high foreign exchange rates, peaking at $1.11 against the US dollar, added to the volatility in Australian domestic grain prices.
"By actively managing both the commodity and foreign exchange risk the pool management team was able to achieve an outstanding performance for pool participants over the course of the marketing year," Mr Cooney said.
Viterra finalises 2010/11 barley pools - 8 March 2012
Viterra concluded its 2010/11 barley pools with the final distribution of funds to pool participants this week.
The barley pool increased an average of $8/mt over the last quarter of the marketing campaign which resulted in increased returns to growers for most grades.
Marc Cooney, Viterra's Country Sales Manager, said the pool returns were a great result considering the volatility in global markets throughout the 2010/11 marketing season.
"Viterra continues to provide competitive and transparent pooling products which ensure growers receive their fair share of returns year after year," he said.
"Pools provide an alternate option for growers to smooth out price risks over the grain marketing year particularly in times of high market volatility.
"It's useful for growers to follow the final result of their pools, regardless of the provider, to benchmark the pool's performance across the industry."
Key highlights included strong returns for Flagship, Schooner and Buloke in both the Eyre Peninsula and South East Australia pools.
Western Australian pool growers received an average of $25/mt increase in feed barley returns as a result of a very successful marketing campaign.
"Strong links with international customers, along with a successful domestic sales program, have culminated in strong returns for all Viterra barley pool participants," Mr Cooney said.
"This reaffirms Viterra's commitment to providing realistic forecasts with estimated pool returns which reflect the long-term market view rather than a point-in-time valuation."
Viterra's SA, WA and Victorian 2001/12 pools are now closed - 15 February 2012
Viterra's wheat and barley pools in South Australia, Western Australia and Victoria have closed, as of midnight Tuesday 14 February.
The pool closures enable Viterra to focus on marketing the current pooled grain and maximising returns to growers
With current global prices lower when compared to last year's harvest, grower support for transparent and reliable pool products has been strong.
Regular Estimated Pool Return (EPR) updates can be found on the Viterra website along with additional information on payment schedules and the latest pool news.
