I enjoy providing comment, but lack the knowledge of our couple of traders who recently suddenly contributed. Nor do I have Portsmouth's experience, or stayer or TillLindemann's expertise on the ground, so please add some salt to my humble suggestions. DYOR!
Don't get me wrong - despite what some say, GNC seems a well run company and the profit outlook despite traders' misgivings is probably fairly reasonable and may even as you suggest be good or above that.
Questions include 'how is it meeting the challenges of graingrowers constantly adding more on-farm storage' and 'how does it react to a significant number of handling competitors?'
Contributor Portsmouth might suggest in reply 'but do you understand how often GNC handles grain, cement, timber and so on, clipping the ticket multiple times such as with its shipping stem?" He might also state 'GNC has crop insurance in place with its premium per annum only being A$6 million'.
I haven't said I won't ever again buy scrip in GNC: it's simply that 'Mr Market' can turn bearish quicker than we can say 'Jack Russell', and the weather prognosis along with ABARES' media release of yesterday are not (on balance) positive for this year's crop that's only just been or is being planted.
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