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Commonwealth Bank supports Australian farmers with a three year sponsorship of Farmlink

6 April 2006

Commonwealth Bank executives from the Riverina today presented FarmLink with a cheque for $25,000 at the Grain Research Development Corporation – FarmLink Grain Research Update, in Ganmain NSW.

The cheque was part of the Commonwealth Bank’s three year sponsorship of FarmLink, an organisation coordinating agricultural research and development activities in Southern NSW.

Commonwealth Bank Relationship Executives AgriBusiness Rodney McKern and Andrew Moss, and Executive Manager Business Banking Tim Harvey expressed their support for FarmLink.

Mr McKern said, "We are delighted to assist FarmLink to help growers share the benefits of research and development. The Commonwealth Bank’s support of FarmLink is part of its long term commitment to Australian farmers."

Global Markets Commodity Analyst for the Commonwealth Bank, Tobin Gorey provided the assembled growers with insight into how they can manage commodity price risks, in light of recent trends in global demand for grain and oilseed.

Mr Gorey outlined opportunities for Australian growers, in response to accelerating growth in household income and food consumption in China and India.

He also said that the outlook for Canola prices is encouraging, following recent increases in global biodiesel demand.

Mr Gorey commented that the strong performance of the Australian and global economies could possibly nudge interest rates higher in the coming year, while the Australian dollar is expected to remain in the low-seventy cent range for most of 2006.


For further information, please contact:

Bryan Fitzgerald
General Manager, Media and Issues Management
Commonwealth Bank
Phone: (02) 9378 2663
Mob: 0414 789 649