AWB general manager of Australian commodities Stuart Richardson said the futures market for milling wheat had rallied substantially since the last pool update.

Supporting this is that the exchange rate for the Australian dollar is slightly lower than it was at the time of the last pool update.

"Our estimates for milling wheat grades reflect the increase in current global milling wheat values," Mr Richardson said.

"AWB continues to make physical sales to both the domestic and export markets.

"We have many existing international wheat customers looking to secure Australian wheat from AWB.

"So our shipping program is becoming well established.

"In contrast to milling wheats, the durum market has declined substantially (from its earlier high prices).

"W have closed our pools to preserve value for those growers who have already committed their durum to the pools.

"Australian durum supplies are tight due to the poor finish in some durum producing areas.

"Prior to the recent decline, the domestic durum market rallied above international prices, supported by this tight local supply and further buoyed by traders attempting to purchase durum to fulfil their commitments.

"Over the last few weeks, the durum price has fallen - traders appear to have either paid up to purchase durum to satisfy their commitments, or washed out against the now cheaper Canadian durum which has been sold more aggressively into the international market to reduce Canada's surplus," Mr Richardson said.