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GrainCorp reported half-year profit of A$140 million, up from A$105 million, and raised full-year profit guidance to A$255-285 million. Results were driven by a large east coast crop, high international grain prices, and strong demand for edible oils with good crushing margins.
The company is recovering from recent east coast droughts.
The earnings update reflects strong domestic grain handling volumes and export demand, but it does not itself change crop supply or global prices. It is a company-level result rather than a market driver.
farmonline.com.auGregor HeardMay 14, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
