'The Weekly Times' of 6 January 2021 - an essential read along the lower east coast - points out that 'cereal grains are supported (in price) by Russian export taxes and the emerging dry in Argentina'. The former was previously discussed on 'HC'.
The article goes on to state 'this month (January 2021) alone, five vessels are to load around 250000 tonnes of canola, wheat and barley in Geelong, four vessels will load 234000 tonnes of wheat and canola from Port Kembla and four vessels will load 140000 tonnes of bulk wheat and barley from the Port of Melbourne. The latter is probably handled by Emerald Grain but the former two may well be exclusively or mostly GNC's trade.
The article comments how shipping is booked out until July 2021 at Portland (Vic), August 2021 in Newcastle NSW and the end of September 2021 at Geelong (Vic).
More good news for GNC.
I don't like to exaggerate but surely on fundamentals at present GNC should be trading at a minimum of $4.50 while some would suggest $5.
GNC Price at posting:
$4.22 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)