Big Dry Wilts GrainCorp

No wonder GrainCorp shares have slid in the past month – the Australian wheat harvest is being hit by record dry weather, the huge American crop is under pressure and not even rising prices in the world’s biggest grains market – Chicago can offset the rising concern of investors.

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Graincorp Outlook Improves With Diversity

A large east coast harvest is under way and an improved earnings performance is expected from Graincorp (GNC) in FY17. Yet the degree of upside is unclear because of the delay to harvests and the extent to which farmers may hold back their grain because of low prices. Increased competition is another factor that may hurt the company’s volumes and margins. On this basis, Morgans, for one, believes consensus expectations are too high.

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