abn amro clueless, page-3

Lets just say I know what wheat price I could have achieved for the last 2 years (2005/06 and 2006/07) and it is around $100/t above where the AWB pool was finalised at, for each years wheat price. That my friend is a 6 figure pure profit loss to each and every wheat grower in Australia for each of those 2 years. And that loss was creamed off the pools by AWB to pay hedge losses, Cole inquiry legal costs and shareholder dividends, and sanctioned by the Liberal/National coalition. I've voted all my life Liberal but yesterday directed my vote elsewhere.

Now Labor are in deregulation is more likely and any skeletons in AWB's closet will be cleaned out. They are no longer protected by the Nationals. Without the Single Desk AWB is forked ... totally forked!

The next monopoly we'll have to deal with in the West is CBH's grain handling monopoly. There is an on-farm grain storage boom about to occur ... I don't like owning steel and concrete but in this case the cost savings will be significant over time.