Ann: Elders Limited Investor Presentation, page-41

Just had a quick scan of the GNC result

Appears that their earnings upgrade was driven by:

1) increase in processing (their Oils business unit)
2) increase in margins in their agribusiness
3) increased value in their investment of UMG

Meanwhile their grain handling volumes are down roughly 10% YoY
The EBITDA of their agribusiness is down ~32% from same time last year - not too dissimilar a figure of what the ELD SP is down in the same time period

So, not sure if this is a positive or negative sign for ELD, or if anything can be derived from it at all?

Probably the most promising statement for us ELD holders is:
"ECA conditions have been generally favourable leading into the 2023/24 winter crop planting period, with good rainfall to data across most areas. As the ECA winter crop develops, this will influence activity and margins both in the fourth quarter of FY23 and into FY24"

Yes, it's only East Coast, but it's better than nothing!