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Daybreak Cropping has purchased Erregulla Plains, extending PSP’s agricultural exposure in Australia to Western Australia’s northern Wheatbelt for the first time.
Undertakings by ANZ Terminals to divest a facility in South Australia and to exclude a facility at Port Kembla from the deal alleviates competition concerns, the competition watchdog said.
The first wheat imports to Australia in years raise concerns about the sector – but there is still interest in cropping properties.
SALIC has bought a large aggregation from the Nicoletti in a deal that also represents its investment into sheep production.
While the drop is significant, production is expected to remain close to average levels in 2017-18 given that last year was a record-breaking season.
Organics make up less than 1% of US corn and soy acreage despite higher returns.
Low prices, hefty reserves and promising US harvests will drive profits for large agribusinesses this year and next, Fitch Ratings says.
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