They got told more than how useless they are and by more people than just me. Must've got through to them because they were going to again load another train the next day which got canceled. Dont know who makes the decisions at gnc but they are very poor at best. Know of a few buyers who now wont deal/buy grain in their system because of bad dealings. I even had an experience in 2010 when most wheat on east coast got downgraded because of wet weather had some aph warehoused. A flour mill in vic 500km bought it fot because in short supply. Grain was no longer at site where i had delivered it so had to chase it at 3 or 4 different sites. On one such occasion the mill sent 3 trucks. There wasn't enough grain to fill 1 so he had to go home empty (gnc did compansate for empty truck). Put mill behind and cost me half a day on the phone trying to sort out gncs problem. Dont think i would ever sell grain free on truck again as the organization of getting things sorted was a nightmare.
With another 20mm of rain last night in area there will now be Downgraded wheat here. With a smaller harvest and downgraded wheat gnc will be taking a further cut in profits next year. Best short on the asx. $7 is a bit optimist imo and think $6 would be fairer value. All imo dyor
GNC Price at posting:
$8.00 Sentiment: Sell Disclosure: Not Held
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