sell-off overdone?, page-17

John, you are almost correct, the milling businesses are "Toll" for only around 60-70% of the business, the rest is on "Spec" to customers. In the case of Malt this is export market, as is the cast with some of the flour. This means that these businesses will do a bit better than break even but will burn money if they try to Mill/Malt anything above the tolling arrangements.

As for the Storage and Ports business this is just thoughput and will definatley be impacted by the lower amount of export quality grain.

Their trading business has never performed and should be closed down, they tie up far too much working capital to return very substandard results.

Under $6 someone may buy them, but possibly on the Canadians who seem to be happy to pay far too much for Ag companies.