IMC wheat yield rises 15% in 2019 to record high

Ukrainian farmer IMC (IMC PW) reported on Aug. 7 it
has completed its  winter wheat harvesting campaign, achieving a
record-high yield of 6.3 t/ha, 15% higher yoy. The company produced 82.3 kt of
wheat this season, about 14% more yoy.

Andriy Perederey: The strong winter wheat result is not indicative for IMC’s full-year
harvest results as wheat accounts for just 12% of its total crop acreage in the
2019 season. The company’s main focus is the farming of corn (59% of total crop
area in 2019), and it won’t be easy for IMC to beat last year’s record corn
harvest, which was 11.1 t/ha, or 22% higher yoy. So far though, we remain bullish
on IMC stock.