Aussie wheat crop in for another downgrade. 30 degree day here in WA and wheat has only just finished flowering. Some serious tonnes were pealed off the crop today. We'll be lucky to pull 12mmt of wheat.
In any case the AWB will find it hard to corner any of it. Its loyal supporters are in the drought areas. The farmers with wheat crops are generally free marketers and will take advantage of the container trade.
Pasminco indeed ... buy at your own risk. I notice they are still using defensive prop bids to try and halt the slide in the SP. Likely to be a few farmers forced to sell their AWB holdings too given the effects of yet another unfortunate drought.
AWB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
