According to The Australian Financial Review, a bullish crop production forecast for NSW, Queensland and Victoria – released less than a week into winter – has been enough to send shares in the agribusiness soaring to two-year highs. GrainCorp last traded at $8.74
The Department of Agriculture says NSW is set up to produce a bumper 15 million tonne winter grain crop – some 28 per cent higher than the state’s decade average. The more wheat, barley and canola that passes through GrainCorp’s vast storage and handling network and seven port terminals, the more money it makes. https://www.afr.com/companies/agriculture/graincorp-looks-beyond-life-as-a-rainy-day-stock-20240614-p5jlqh
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