Factors in the next 3 months, page-26

Whilst your analysis of reports and data maybe of a high level, I note that your understanding of the live export trade is very very limited and would caution against making comments on such matters.

Whilst you note that WLD has conducted a single shipment from Brazil it is also worth noting that other Australian based and offshore export companies have significant operations from Brazil and other South American countries, with well established supply chains and infra-structure.

To infer that WLD is well positioned to ramp up exports from these regions based on a single shipment is a naive and unsubstantiated comment. I would caution against such comments.