Parts of Central QLD got some reasonable totals which will make a difference to livestock farms esp dam levels. Here is an update from DJ re GNC:
Winter Crop Season Looking Good for GrainCorp -- Market Talk
Posted on 16 June 2016 10:47 | DOW JONES INSTITUTIONAL NEWS
[Dow Jones] It's early in the season yet, but UBS says the indications are for above average crops on Australia's east coast, which bodes well for grain handler GrainCorp (GNC.AU). Queensland state remains relatively dry, but New South Wales and Victoria saw good rainfall for planting and the Bureau of Meteorology estimates an about 80% chance of above-average rainfall over the next three months, the brokerage says. It lifts its stance on GrainCorp's shares to neutral from sell, in part because risks to fiscal 2017 earnings are now building to the upside. A change in its valuation methodology sees its price target rise to A$8.60 from A$7.80. The shares are now up 4% at A$9.07 as the company briefs investors. ([email protected]; Twitter: @rob
GNC Price at posting:
$9.18 Sentiment: None Disclosure: Not Held
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