As a city dweller (often uninformed), I don't regard sorghum as a major contributor to GNC's volumes or in good years, earnings/NPAT but a report on the 'Grain Central' site suggests rain in southern Queensland has badly affected much of the crop as only about 10 per cent had been harvested.
In contrast, because rain is only forecast from Thursday 4 April 2024 in northwestern NSW such as near Moree, a grower states that he's basically finished harvesting with excellent yields.
Perhaps this is a small contributor to the A$0.28 drop to A$8.13 in today's SP by 1310 AEDT, down 3.33 per cent. Traded volume is however low at only 212,000.
GNC Price at posting:
$8.12 Sentiment: Hold Disclosure: Held
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