A lot of stock being soaked up by committed buyers in the low $4 area as some brokers have changed sentiment from Buy to Hold. Well the humans on the planet and some animals such as pigs are going to need Wheat & Barley in their staple diets. Oz is having a good wet winter in many agricultural areas which will translate to a bumper grain harvest.
Those of us who can think outside the square know that the silos will be full to overflowing come summer and Graincorp staff would have been busy for a long time booking forward sales. Forget China, we will find other markets as the planets 8 billion people plus animals need to be fed.
I have put my money where my mouth is and own GNC shares. Its not a APT type share, just a good old fashioned ethical staple in the ag sector. I will eat my hat if this does not trade over $5 later this year. I support Australia grown & owned. GNC might not make you rich but you certainly feel good knowing you are supporting our farmers, rural employees and fellow shareholders. This is a great company, a national icon. Great buying at these levels imo. DYOR.
GNC Price at posting:
$4.12 Sentiment: Buy Disclosure: Held
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