Its well publicised GNC will have excellent volume of grain to handle in 20/21. (Wheat, Barley, Canola)The big question is what price they obtain for the grain and if they can find markets to sell the grain into. It costs money to store it. Some market up dates from GNC on forward sales orders would be handy. This is part of the reason the S.P. moves all over the place. Its called uncertainty.
Nice trading stock if you can pick it. If 21/22 year is a drought it wont hang around these levels so its not a bottom draw stock by any means. If we weren't at "war" with China the stock would be over $5 atm. Norges Bank certainly dont care which way its moving as long as they can make money from it. Sometimes it "pays" to keep an eye on the big boys and learn from their actions. GNC does have insurance which stabilises earnings but that comes at a cost as well.
It was reported in The Australian today 55% of ASX stocks could be adversely affected by a trade war with China. Tread carefully. Its a buy under $4 for the moment. (subject to the China syndrome)
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