The wheat crop of 21.64 million tonnes mentioned in the previous post is slightly higher than what was previously flagged by Australian Bureau of Agriculture, Resource Economics and Rural Sciences (ABARES) (see post of 14/6)
"Australian wheat production is expected to total 24.19 million tonnes, the Australian Bureau of Agriculture, Resource Economics and Rural Sciences (ABARES) said, up nearly 1 percent from its March forecast of 23.98 million tonnes......Much of the increase in the 2017/18 forecast will come from the country's east coast, the bureau said, after heavy downpours between March and June aided soil moisture, boosting the prospects of fledging crops."
As Graincorp is focussed on Qld, NSW and SA and the problems seem to be more related to WA, hopefully GNC will be insulated as there was good rain March to June.
why the 5% drop today?, page-5
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