Have been keeping tabs on the storage v current year yield for around 20 years 5m tonnes in storage (if that is correct) is a great deal. Some will always be held back to supply the domestic market in event the yield is poor - as happened 2016-1019, when Australia was actually importing from Canada. This not the case now. I was discussing current future with some business partners recently, we came to the conclusion that even an average harvest this year, the amount currently in storage, would ensure that the domestic market is satisfied, but also there will be a very healthy export program. Even if there is a poor harvest this year - which is extremely unlikely, there will still be a very good export market.
We came to the conclusion, that irrespective of what happens NEXT year, there is enough in the bins to contribute the strong exports.
Looking to see the s/p to increase well above $10 in the next few months.
GNC Price at posting:
$8.11 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)