AVANTAGRI Australia Pty Ltd has opened a second round of pools for the 2016-17 harvest to receive grain from the protracted harvest in the wake of the closure last Friday of its six-month MP6 and nine-month AvantAgri Managed (AAM) pools.
The first pools were opened in November, and AvantAgri managing director Peter Woods said they had been closed to protect equity for those who delivered early in the harvest period.
“We expect there to be a need for pooling products much later into the year than normal because of the big crop, rain delays to harvest, and the low price levels confronting growers,” Mr Woods said.
The MP6 pool markets grain over the northern-hemisphere growing season, and aims to capture market moves associated with waxing and waning growing conditions across North America, Europe and the Black Sea, with payments finalised in June.
The AAM is finalised in September, and is marketed as being better placed to capture any gains from actual production issues in northern-hemisphere wheat and corn crops, which can impact on markets in July and August.
Earlier in January, AvantAgri launched an AAMX extended pool being run over two seasons, for those wanting to get exposure to two northern hemisphere seasons.
Source : AvantAgri