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Reduced wheat crop hurts GrainCorp
6 May 2005
Grain handler and marketer GrainCorp downgraded its profit forecast for 2005 to between $10 million and $12 million, compared to earlier forecasts of $14 million to $16 million. The lower profit is symptomatic of reduced production by wheat growers and reduced margins as the extended dry hurts farmers. GrainCorp grain receivals for the 2004/05 harvest of 9.5 million tonnes were half a million tonnes short of earlier forecasts.
Courier Mail, 06/05/05
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