I think north NSW in west just lost some significant tonnages in past two days considering many paddocks were already soaked…..sure feed may be harvested in many fields if dry for a couple of weeks…but weight losses plus lodging would have hit already.
like I said, GrainCorp wasn’t priced for yet another bumper, but I put a sell on for a few at 8.20 yest morning, and missed! Knowing the brain dead market and short term instos that manipulate our markets daily, they will get sold off a bit more.
Till, the margins they’re making on grain trading are huge at present; so yes, volume is key, but the international wheat and even corn shortages plus full shipping stem are certainly a huge help! Oilseed disruption also likely a small help.
GNC Price at posting:
$7.85 Sentiment: Hold Disclosure: Held
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