I am a farmer in qld - very dry finish here but we are not all that crucial to graincorp - cq harvest likely ok
nsw and vic are crucial and the lighter soils in areas down that way will want good rain now and next couple of weeks - heavier soil areas would want rain but not as crucial - there was some rain in areas in past few days - have a look at bom site and river/rainfall conditons and they have a few maps - i think more will be wanted
weakness could have a bit to do with cr as you said and also a bit of "ho hum - you could have done better with the oilseed acquisition"- malt business margins may not be as good with current barley prices - they were skiting up their ability to lower costs in the malting business not long ago - i hope they didnt take a punt on getting the barley cheaper!! all speculation of course and even so i doubt they would bet too much!
GNC Price at posting:
$8.71 Sentiment: LT Buy Disclosure: Held
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