On a day like Tuesday 3 January when by about 1200 (noon) the ASX 200 was down by 1.59 per cent, coal stocks down by up to nine per cent (NHC) and GNC down about 3.23 per cent to A$7.18, to claim there's any good news may seem like a diversion.
But the harvest update for 3 January 2023 that covers two weeks given Christmas and New Year is very pleasing:
Grain receivals (tonnes) at GrainCorp up-country sites as at 3 January 2023
| | Since 19 December 2022 | Total |
|---|
| 1 | Queensland | 18,750 | 2,128,350 |
|---|
| 2 | New South Wales | 839,220 | 4,534,200 |
|---|
| 3 | Victoria | 1,300,030 | 3,171,570 |
|---|
| 4 | Total grain receivals | 2,158,000 | 9,834,120 |
|---|
It's apparently largely receivals from areas like Harden in NSW, plus areas in Victoria where graingrowers are located.
A year ago this was the picture:
Grain receivals (tonnes) at GrainCorp up-country sites as at 4 January 2022
| | Since last report | Total |
|---|
| 1 | Queensland | 9,850 | 1,734,100[1] |
|---|
| 2 | New South Wales | 1,274,000 | 7,242,900 |
|---|
| 3 | Victoria | 786,600 | 3,451,740 |
|---|
| 4 | Total grain receivals | 2,070,450 | 12,428,740 |
|---|
Overall receivals are 20.87 per cent down between the 2021-22 crop and this years 2022-23 crops.
However still very good, with GNC stating it is transport around 200000 tonnes of grain a week to its ports, creating room for more grain to be received at its silos and bunkers, not forgetting teh famous Marmalake (Murtoa, Victoria) 'stick shed'.
As previously suggested, there's no way this harvest will be a record but it's still excellent news. As our doyen Portsmouth says, GNC will be busy for (at least?) the next 18 months.
In my usual city-centric ill-informed way, I'd add 'even if we have the mother of all droughts in calendar 2023'.
Not that we expect grumpy 'Mr Market' (he's just had a seizure) to take any notice today.
(20min delay)