2020-21 Harvest Updates

GNC MD Mr Spurway said GNC would be providing fortnightly harvest updates.

However it's gone one better and has an update for 23 November 2020 within the investor section of its website.

There was rain affecting receivals in NSW and Victoria but quality remains good.

In the seven days to 23 November, an amazing average of 339874 tonnes of grain was received by GNC - totalling 2379120 tonnes.

In NSW total receivals for the company have become 5438600 tonnes, in Queensland - where weekly receivals of only 23000 tonnes suggest there's not much more of the winter crop to be harvested - it's up to 914000t and in Victoria, 914600 tonnes.

A lot more to come from central west NSW and the Riverina, plus Wimmera and Mallee in Victoria.

While it didn't specify exactly where, GNC is constructing some extra bunkers to store excess grain in northwestern NSW, presumably along the Moree and Walgett rail lines. So its own forecasts must have been out - very positive news!

GNC shares have risen to A$4.60 this morning.

It remains to be seen but this harvest may well be an all time record. It'll be delightful if world demand for Australia's wheat and canola remains good, as some have suggested it will given poorer than expected weather conditions in Europe and Russia.