A lengthy article in the Stock Journal today in regard to record convoys of grain shipments to China was worth a read. The final sentence is quoted below:-
"With a big crop in the making and a substantially increased exportable surplus, Australia should figure prominently in second half 2020 wheat transactions and first half 2021 wheat shipments to China."
Also; China has stuck the boot into W.A. barley farmers via placing a ban on W.A. barley exported via CBH. China needs grain to feed their revitalised pig herds and cover recent droughts. China will be forced to buy Oz grain at some point in time as global supplies tighten.
Next move in the game of Chess is to take back the Port of Darwin, followed by Dairy herds in Tassy, followed by etc etc etc until they get the message. Running on an empty belly causes hunger pains. More pain to the Chinese as we diversify markets. Bring on the free trade agreement with the U.K. That will be good for GNC.
Market weakness pulling on the S.P. atm. Resistance at $4.48 has been tested and failed to break. Could drift under $4 again?? (Hope not)
GNC Price at posting:
$4.23 Sentiment: Hold Disclosure: Held
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