I’m looking to short the stock for a few a reasons:- I am a...

I’m looking to short the stock for a few a reasons:

- I am a farmer who likes to punt on the side. I’ve had 3 bumper years in a row and talks of El Niño later this year means I need a hedge against the drought. I am confident next drought we hit Graincorp will suffer

- Reading a few comments from what look like traders on graincorps export margin disappearing is believable. I spent the last two years slinging mud at exporters for ripping growers off. Whereas all the brokers I speak to say there is no margin anymore! I’m not 100% but I think the margin was to do with us hitting our capacity on how much we could export v what the offshore prices was doing.

- I think it’s known the EC of Australia is over capitalised in terms of storage and handling infrastructure. In wet years there isn’t enough and in dry years nothing gets used. The last 3 years I’ve put enough silos in to hold my whole crop! Many neighbours have done the same thing.

my only fear is Russia playing hard ball and or it keeps raining. But if either of those two things happen the wheat I grow will more than cover my short loss