market awaits graincorp results with interest

Market awaits GrainCorp results with interest

By Caitlyn Gribbin

Wednesday, 14/11/2012

Australia's largest agricultural company, GrainCorp, will announce its financial results tomorrow afternoon.

In Sydney, chief executive Alison Watkins will present the annual report for the financial year ended September 30.

There will be great interest in the report, with the GrainCorp board considering a takeover proposal from US agribusiness giant ADM.

GrainCorp owns storage sites, freight trains and ports in eastern Australia.

In its weekly grains update, the company says the harvest in Queensland is nearly complete.

In NSW, activity is picking up in the Narrabri and Moree zones, with earlier cereal crops started to be harvested in the Liverpool Plains.

Rain has held up the harvest in central NSW but the wheat harvest will get underway along the Coonamble line this week.

In southern NSW, barley and wheat is being harvested and canola is being received.

In Victoria, harvest in the Wimmera and central and north eastern regions is ramping up.

http://www.abc.net.au/rural/news/content/201211/s3632357.htm