Australian Farmers Wait for Rain as GrainCorp Warns of Dry Start

Crop handler GrainCorp Ltd. has warned about challenging conditions in Australia’s east as grain farmers across the nation wait for rain, with most winter crops planted in dry soil. “We are still quite a way from having any predictable levels of what the crop size would be,” for the upcoming season, GrainCorp’s Chief Executive Officer Mark Palmquist said on a call with media and analysts on Friday. Parts of Victoria and New South Wales had the driest April on record while southern Australia as a whole had its third-lowest amount of rainfall for the month, according to the Bureau of Meteorology.