Rain precipitates Graincorp share price rebound
Shares in Graincorp (ASX:GNC) rebounded from recent lows most likely due to the rains that started to arrive near the end of April in key growing areas. Over the next few months, investors and farmers alike will focus on the rainfall to support the winter crops. Although GNC is less dependent on the size of the grain harvest than it was in the past, it still has some influence on the share price.
The other news flow of note related to GNC’s proposed involvement as an investor in a WA grain co-operative, CBH, in the event it looked to take on external investors. The CBH members rejected the proposal to prepare the company for a potential listing. As we discussed last quarter, such processes are typically quite protracted, as GNC well knows, and we expect the efforts to continue.
View the April 2016 performance reports:
- Ralton Australian Shares
- Ralton High Yield Australian Shares
- Ralton Leaders
- Ralton Smaller Companies