Bearing in mind Portsmouth's excellent contribution about how...

Bearing in mind Portsmouth's excellent contribution about how GNC has many 'fingers' in quite a few 'pies', and how the exportable surplus is key as GNC is a handler not a graingrower, this extract is from 'The Weekend Australian' of 19-20 November 2022:

"...James Maxwell, a senior insights manager at Rural Bank, estimates about $250m in wheat has been completely wiped out. The financial impact of downgraded wheat quality is even higher, at an estimated $450m-$500m, up to $300m of which has come from NSW.

Maxwell predicts the state will harvest 14.5 million tonnes this year, down 28 per cent on last year. Still, production in NSW will be 34 per cent above average, highlighting just how good last year’s crop was and also showing that, while damaging to grain quality, the widespread rain has boosted production overall.

Aerial drone photograph of the NSW town of Moree inundated by floodwaters. Picture: Christoph Nagele / Townlife

Maxwell predicts the national total will be 57.8 million tonnes, down 10 per cent on last year but 32 per cent higher than average. Production losses in the eastern states are expected to be slightly offset by an 8 per cent increase in South Australia.

“Last year was a record by a fair margin so we are coming down off a very high benchmark..."