Vog, here's some facts which you have missed from your armchair.
WA is having a record harvest, Australia number one export State. Some 15mmt is possible. All this grain bar about 300k tonnes will be handled by the farmer co-operative CBH.
SA is also having a bumper season and is Australia's number two export State. All their grain is handled by Glencore who acquired the State's grain handler Viterra without much fanfare.
Graincorp has exposure to Victoria, NSW and Queensland. Two of those States have extremely poor crops and with the extensive on farm storage resources, will see little grain head through Graincorp's facilities. The large domestic market will first be served from the on farm storage network. Victoria has had a poor season but the best of the three.
So out of your google search, pull your head out of the sand ...
Graincorp's bottom line is going to come under pressure until the next good east coast crop.
GNC Price at posting:
$8.72 Sentiment: LT Buy Disclosure: Not Held
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