Although markets are volatile and the wheat futures price has declined from its May 2022 highs, an update I just read from the USA suggested that world wheat stocks would slightly decline, and there remained concerns about drought in some nations (including parts of graingrowing areas in the USA).
Given stayer's soil and climatic conditions summary and Portsmouth's occasional reminders about how busy GNC should be for the next 15-18 months or so plus BOM advice rain is expected on the lower east coast this week (as above), that was sufficient to top up this morning.
Despite the SP fall today, GNC remains a solid business of which to be a tiny part owner.
Importantly, while nothing's perfect, it's well run and continues to command a very decent market share for the handling of east coast Australia's grains, plus as Portsmouth suggests, some other commodities.
GNC Price at posting:
$6.90 Sentiment: Hold Disclosure: Held
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