GrainCorp has raised its annual profit forecast to $365 million-$400 million, up from $310 million-$370 million.
The company said the profit upgrade comes as Australian farmers prepare to harvest another big winter crop and Russia?s war in Ukraine disrupts international trade flow.
Managing Director Robert Spurway said the positive outlook was driving an increase in fourth quarter activity and supporting export volumes, forward contracted grain sales and supply chain margins.
GNC shares have surged over 6% following the announcement.