Correct on all accounts. Russian moisture (they are planting now) has been terrible and China is buying up every tonne they can get at the moment so this has kicked the wheat prices globally (and here) to very high prices. Prices locally are very cheap relative to the rest of the globe and hence we will export a huge wedge of wheat/barley and canola this year but on face value, most growers are getting $280+ at their local site which is very good vs how big the crop is (would be a record if you multiplied average yield x price). What prices do from here will be determined by northern hem weather and China buying - to forecast that accurately is akin to a guess and fairly irrelevant to GNC
Ps GNC looking pretty healthy on a big up day with massive volume - for those who stuck their hand in the fire yesterday and added, hopefully you just bought the low
GNC Price at posting:
$3.76 Sentiment: Buy Disclosure: Held
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