GrainCorp (GNC) has rallied strongly in September, including a one-day +11% surge following a significant upgrade to Australia’s 2026/27 wheat crop forecast to 29.9Mt, around 12% above the June estimate. The improved harvest outlook, elevated global grain prices and the strongest crush margins in three years have driven earnings upgrades and higher analyst price targets, while Black Sea disruptions are also diverting export demand towards Australian grain.
Note we also like GNC because of its low Beta (correlation to the ASX) in this uncertain period.
- We are bullish towards GrainCorp (GNC) following its crop-driven upgrade.
Trade Idea: Buy GrainCorp Ltd (GNC) using a limit of $6.50, with stops at $5.98, around 8% risk.
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