It is a record NSW, there is no question. ABARES report which is the basis of many analysts numbers is updated on the 1st of Dec and while they typically play conservative, we should see a marked increase in production. I speak to 20 growers a day and have not heard a worse than expected crop yet, most surprised to the upside. Storage capacity is going to pushed to the max, and for those who can get them, bags will be their only option.
In terms of demand - dont stress, Australia is the cheapest wheat globally, we haven't been this cheap vs the rest of the world in 10 yrs and ppl are lining up for our grain. The only limiting factor is supply chain limits and when thats the case, margins increase for those who own the assets - like GNC and the margins are gewdd.
@Sharespike - fear not for the poor farmer, if you multiply yield x price = its also a record, by a way. He'll be looking to defer income
GNC Price at posting:
$4.60 Sentiment: Buy Disclosure: Held
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