Estimated pool returns (EPR) for benchmark grade APW wheat are now $250 a tonne in the western pool and $258 a tonne in the eastern pool (FOB, excl GST).

AWB general manager for commodities, Mitch Morison, said the continued appreciation of the Australian dollar was putting downward pressure on Australian wheat prices.

"While international cash prices and US wheat futures are slightly higher since the last pool update, the strength of the Australian dollar continues to have a negative impact on Australian wheat export prices," Mr Morison said.

AWB yesterday closed the second of its early commitment premium pool contracts in Victoria, New South Wales and Queensland, following strong grower support that has fully subscribed available tonnage in these states.

Mr Morison said through its $15 and $10 a tonne premium contracts, AWB has hit its targets in all states.

The Western Australia and South Australia early commitment premium pool contracts were closed last week.

"Sales, commodity hedging and currency management activities are occurring right across our pools, thanks to growers early commitment to our 20090/10 wheat pools," Mr Morison said.

Meanwhile, AWB will this week make a third distribution of $262m which, after the deduction of supply chain costs, will provide a $239m net payment to pool participants who delivered to the 2008/09 AWB wheat pools.

Mr Morison said AWB was pleased with the 2008/09 sales and marketing program, with strong domestic and international sales achieved.

"The 2008/09 wheat pools continues to target sales to key export customers in Japan, South Korea, Indonesia, Malaysia, Sudan, Egypt, Yemen and the Pacific Island markets (New Zealand, Papua New Guinea, New Caledonia, Solomon Islands & Fiji)," Mr Morison said.

"This third distribution represents approximately 30 per cent of estimated pool equity, with some grades a little higher and others lower.

"Combined with the first and second 2008/09 pool payments we have now paid out approximately 76pc of the 2008/09 estimated pool equity or $574 million (excl GST) directly to pool participants in the AWB wheat pools."

Estimated returns for AWB’s 2008/09 wheat pools are unchanged, with the EPR for APW at $325/t in the Western Pool and $330/t in the Eastern Pool.