All,
the fertiliser issue is not relavant. I track every import fertiliser shipment on the east and south coat of Aus. There is plenty coming in. The stockpiles for the main players, and there are 5, are high. Plus what is being produced locally.
The biggest issue is continually rainfall, and whilst there has been some goof falls on the east coast, it takes time to soak in deep. NSW is still in 98 droughts (as reported) but that figure is as rubbery as Covid infections in Indonesia.
One this that has been neglected, is that the prolonged drought, will actually improve soil quality, there are many nutrients that come down with each downpour. And this will improve soil quality and ultimately yields. The earth has chance to replenish.
I do fear that the rains have come too late for a decent planting....although some took the risk and planted late. As a grain handler this will be OK for the domestic market, but I do not anticipate much in the way of export this year.
Graincorp have been astounding at diversifying - globally, and have a great deal of confidence in them, believe that from a situation where they were about to be picked off by the vultures - have turned around big time.
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