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GrainCorp looks beyond life as a rainy day stock

GrainCorp looks beyond life as a rainy day stock

Wet conditions have boosted hopes of another bumper crop. The ASX-listed agribusiness’s share price has been a big beneficiary.

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Too much rain has fallen on the Liverpool Plains, where Xavier Martin runs a wheat, canola and sorghum farm. In other parts of NSW, there hasn’t been enough.

“Farmers are reporting a really patchy scenario across the cropping belt. Where I am on the Liverpool Plains it is definitely on the too wet side,” he says. “There are other areas that haven’t even completed summer crop harvest (because it is too wet) and there are dry patches where farmers have been unable to sow.”

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Brad Thompson
Brad ThompsonReporterBrad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com

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Original URL: https://www.afr.com/companies/agriculture/graincorp-looks-beyond-life-as-a-rainy-day-stock-20240614-p5jlqh