The EPR range for APW wheat is now $380-$400/t (free on board, GST exclusive) and the Western Australian noodle grade wheat is $385-$405/t (FOB, GST exclusive).

AWB Australia commodity division general manager, Mitch Morison, said the Australian dollar has depreciated and US wheat futures have trended higher in volatile trade over the past fortnight.

These factors had resulted in a significant increase of the EPRs, he said.

"The US wheat futures have risen as the market is currently focusing on the level of demand for US wheat at present, particularly with Iran becoming a major buyer of US wheat recently, as well as recent dryness in Australia and a combination of poor soil moisture and lower planted acres in Argentina," Mr Morison said.

"Internationally, Black Sea cash wheat prices remain the benchmark and there continues to be significant international wheat sales for Black Sea wheat.

"The quality of the EU crop remains a focus of many buyers as there has been significant rain in Germany which is affecting the quality profile of the crop.

"However, the French harvest is now complete without any major quality concerns, and harvest is getting underway in largely ideal conditions in Canada and barring excessive moisture going forward, a large crop of high quality wheat should eventuate."

However, AWB's ability to export wheat in bulk and deliver these prices is still dependant on being granted accreditation under the Wheat Export Accreditation Scheme.