GrainCorp’s third profit downgrade in four months provided the knockout blow.
Up-and-down gold stocks were always going to smack the ASX on Monday, but it was the sell-off from left field that really left investors reeling.
Grains handler GrainCorp is having a stinker of a time. Having warned investors that its 2026 financial year would be tough in November and again in December, it put numbers around it on Monday: underlying earnings could be as much as 35 per cent lower while profit could drop as much as 75 per cent.
