I think theres just hype around these results, which is a good trading opportunity no doubt, but would I get long here for the medium term, nope. It's results previously have relied heavily on the performance of the malt and oilseed businesses, with S&H and marketing not performing well at all, which I expect will return to be the case. Agree the crop has started well but early days yet as you say and consecutive crops that big is very unlikely. Also, not sure what you mean about chickpeas and canola, they will increase acres this season no doubt but get stored with GCORP anyway so not sure what they can 'gain back a bit'? Also, there monopoly, although still strong is diminishing y-o-y, every port they own except for 1 now has a competitor next door and growers are storing more on farm and more competing sites are opening up country.
GNC Price at posting:
$10.17 Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)