Thanks @stayer - i dont often get things right, but maybe this...

Thanks @stayer - i dont often get things right, but maybe this time i did - reposting original, with corrections to spelling and also some updated info:-

Original Post - Last May - changes highlighted:-

Looking at the financials, dividend history, and more importantly port activity (where most of GNC revenue is generated) - no interim divi this year (yet), partly because of the completely wrong medium term weather outlook - remember at the back end of last year, we were going to suffer the worst el nino event ever, but 'whoops' sorry not even neutral but an unprecedented la nina, but also the very high volumes going through ports, all down east coast.
And of course, being an 'honest corporate' (tongue in cheek) - GNC chose to under promise, but didn't make it clear that they knew they were going to overperform. Why are they continually buying back on market?
Sp currently sitting at around $2 below where it has been in similar market conditions' am also seeing new markets for export, Tanzania being one (first time i have seen in 20 years)- others really increasing from previous year, Philippines, Viet Nam, just to mention a couple. Now also Pakistan (Viterra contract) Thailand (large shipment Graincorp shippers in own right) and now Cargill shipping through graincorp to China
Also noting that Graincorp - i have mentioned this before - are becoming shippers in their own name, rather than relying on third party traders.Another interesting development which i have noted, is that GrainCorp terminals are now shipping cargoes from other players, Viterra, CBH for instance, feeling that these players cannot source enough product from their own area of SA and WA to fulfil contracts. Well there's a bit of analysis, and as i have said, the east coast ports are booming.June / July are the make/break months, if there is still product flowing then, it means the domestic market is filled, and this is all cream on the top. Making it a boom year.

How good can it get with these orders at this time of year ?