Ivernia Inc IVWFF

Farmers predict all-time wheat low

[bpat]

What's this got to do with IVW...well in the last quarter's financials, IVW said they had problems drying the lead because of heavy rains in Western Australia, this has changed, now it's a drought. Also the decreasing price of oil should help the profit margin, I think it's time to get back in, the price per share seems to have hit bottom as well... Farmers predict all-time wheat low The Western Australian Farmers Federation says the state's wheat growers are almost certain to record their worst season ever. Independent commodity manager the Emerald Group has predicted the dry spell across most of the country will push wheat production in Australia down to as low as 13 million tonnes this year. Production in Western Australia could be as low as four million tonnes, less than half of last year's bumper harvest. Federation president Trevor de Landgrafft says farmers feared the worst after the poor start to the season and it now looks like those fears will be realised. "It was hoped that Australia and the rest of Australia would have been able to make up," he said. "That hasn't happened so it really does look like it's going to be an all-time low right across the nation. "There still is some hope left in the season, however, the outlook does look bleak."