The significant rain in Victoria (16.8 millimetres in the 24 hours to 0900 AEDT at Nhill; 18.2mm at Hopetoun and an extraordinary 46.4mm at Walpeup in the Mallee along with a huge 85.4mm at Swan Hill) won't just mean growers finding it extremely difficult or impossible to operate harvesters and other machinery in flooded paddocks, but will see quality downgrades for some or much of the remaining wheat that has not been harvested.
GNC is a handler not a grower. If yields also decline, this will result in fewer tonnes being received by GNC from what was expected to be a very good to excellent Victorian harvest.
Similarly in the Riverina of NSW Hillston copped over 40mm.
GNC Price at posting:
$7.51 Sentiment: Hold Disclosure: Held
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