Reactions are mixed from local grain growers on Treasurer Joe Hockey's decision to block an American food giant's bid for Graincorp.
Speaking from Woomelang in rural Victoria, grain farmer Chris Kelly said the federal government had missed a big opportunity in knocking back Archer Daniels Midland's $3.4 billion offer for Australia's largest grains handler.
"It's astounding, and that's an understatement," Mr Kelly told AAP.
"$500 million in infrastructure would have delivered a much more competitive price for our grain overseas.
"I can't say anything more critical of Hockey and the whole lot of them, it's jingoism."
Mr Kelly said the industry needed ADM's investment to boost infrastructure, and put downward pressure on supply chain prices.
He said in the wake of the decision, the dozen or so grain growers in his region now felt unsure about the industry's future.
"The general feeling's unease," he added.
Across the border, in the NSW town of Coonamble, grower Tom Cullen was more upbeat.
"I'm happy about it, but the question is where do we go now?" Mr Cullen told AAP.
He said he had reservations about ADM's "previous performance", adding there was no reason Graincorp couldn't operate in the interests of growers.
"Why can't we do it ourselves," he said.
However, he said it was important competition was boosted in the supply chain to drive down the cost of getting produce to offshore markets.
Mr Hockey's announcement on Friday came after months of vocal opposition to the sale from the Nationals and rural Liberal MPs.
The treasurer said the takeover was blocked because transition towards more robust competition was ongoing in the industry and ADM's offer risked undermining public support for foreign investment more generally.
The opposition has attacked the decision as bad for business and a concession to the Nationals and rural MPs.
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