the can of worms just gets nastier. i'm not a fan of their...

the can of worms just gets nastier. i'm not a fan of their activities, however:
1. the single desk is there for at least another (possibly) 2 years depending on the outcome of the election (i.e. if nationals get a bigger say, or labour needs time to think things through)
2. this year's production is unhedged (refer the MDs speech in feb)
3. recovery in the bush + projected higher demand from the world market
4. wheat prices have fallen since the highs of last year - assuming their rolled over their contracts, the booked losses will be much less than everyone thinks. LHG has a similar predicament in gold, and they've gone to raise $1.2 billion!

at $3.63 +/-, i think its still an attractive buy. but what do i know?