Graincorp is now under Algo Engine buy conditions and buying support has developed around $9.00.
The story gets slightly more complicated for investors, following Graincorp announcing they intend to demerge the global malting business into a separate ASX listing. This is likely to occur in the second half of 2019.
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This will then leave the integrated grains & oils business as a separate ASX listed company.
We believe the standalone malt company will be an attractive investment.
