I understand from where you're coming, but GNC is slowly diversifying.
Oilseeds production (into canola oil and other products) is one way, proving extremely successful at present, while the nascent seaweed-livestock venture (on which the jury remains out) is another.
On top of that, GNC also has operations in Canada, so if the crops in Australia are poor - a certainty to again occur, maybe this year, maybe next, up to God - there is a fair chance that crops in Canada will be at least fair and perhaps good to excellent.
And let's remember the 'carryover' means it can be some time before GNC is adversely affected by droughts or other agricultural problems.
An analyst yesterday claimed that the world needed 40 million extra tonnes of grain (or wheat, can't recall the exact words) per annum to feed the growing population. That's an extraordinary amount, and a view 'Mr Market' doesn't yet seem to have got into his elderly skull.
I hold GNC and RIC. Both appear to be well run companies, with that Quinton Hildebrand at RIC from what outsiders can tell being an exceptionally good strategist. RIC of late hasn't put a foot wrong.
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