AWB's general manager of Australian commodities, Stuart Richardson, also announced product lending percentages and first advance levels as part of AWB's declaration of its NEPRs, which form the basis for AWB's underwritten loans and payments.

"Our pool payment and finance products are fully underwritten and we offer a range of options, so we continue to offer growers great value with security and flexibility, all of which are important," Mr Richardson said.

"Due to the volatile and changing nature of the wheat market we have made some changes to our harvest finance offering for the 2008 season, including combining AWB Harvest Loan and AWB Flexible Drawdown Loan into one simple product called AWB Loan and adjusting our underwriting fee to $1.90 per tonne.

"It is important to remember that the payments we are offering though our finance products will be topped up as the season progresses.

"Our intention is to progressively raise the levels and 'top-up' earlier payments as sales prices and hedging benchmarks for AWB Pools are achieved."

Mr Richardson says growers who use AWB's Pool Incentive Contract will receive a higher harvest cashflow as the $10 premium will be incorporated when calculating loans and payments.

"Clients have the flexibility to select from AWB’s payment options as they progress through harvest load by load, with the ability to use a single option or combine payment options to suit their needs," Mr Richardson said.

The nature and timing of payment will vary according to the options the client selects.

Meanwhile, AWB has widened the spread between the premium APW milling wheat grade and ASW for its 2008/09 Eastern and Western Wheat Pools.

All other grades remain unchanged.

The benchmark APW grade has increased $1 per tonne and now stands at $327/t FOB in the AWB Eastern Pool and $324/t in the AWB Western Pool.

ASW has fallen $4/t in both pools, to $307/t in the Eastern Pool and $304/t in the Western Pool.

Mr Richardson said wheat harvesting in the northern parts of the eastern seaboard was progressing well, with good crops being harvested in Queensland and northern NSW.

In Western Australia wheat harvesting was moving into parts of the eastern Central Wheatbelt.

In the north of WA progress had been slowed as cool and sometimes damp conditions made it difficult for farmers to get into their paddocks.