Australia's GrainCorp slumps on lower annual harvest forecast

Graincorp

17/12/2025 01:11

** Shares of Australia's GrainCorp GNC.AX fall as much as 20.1% to A$6.70, their biggest intraday drop since November 29, 2013

** The grain and edible oils business says FY26 receival volumes of 11-12 million tons impacted by expected lower East Coast Australia winter harvest, compared with 13.3 million tons in the previous year

** Moreover, co with its joint venture partner entered into a non-binding agreement to sell GrainsConnect Canada for C$150 million ($109.01 million)

** Co expects loss of about A$5-10 million on sale of GrainsConnect

** Around 1.5 million shares change hands, nearly 1.3x 30-day average

** GNC up 3.1%, YTD

($1 = 1.3760 Canadian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))