The Australian sharemarket is relatively flat at lunch today after not receiving a lead from U.S markets overnight due to the Martin Luther King public holiday. The ASX 200 index (XJO) is up 0.26pct or 12.5pts to 4774.5 while the broader All Ordinaries index (XAO) is a modest 0.21pct or 10.3pts higher at 4882.9.

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Australia's second largest miner, RIO Tinto (RIO) and the country's third largest iron ore producer, Fortescue Metals (FMG) are both stronger ahead of their quarterly production figures out today. RIO is up 0.23pct or 20cents to $86.08 and FMG is up a more significant 2.23pct or 15cents to $6.88.

Steel producer, BlueScope Steel (BSL) is off 1.82pct or 4cents to $2.16 after receiving a broker downgrade today. The stronger AUD and costs pressures are partly to blame.

Goodman Fielder (GFF), the owner of grocery brands, Wonder White, Helga's, Meadow Lea, Praise, White Wings, Quality Bakers and Nature's Fresh is off by 2.22pct or 3cents to $1.32 after Chief Executive, Peter Margin has announced his resignation effective April 30.

In the rural sector, the world's fourth largest malt producer, GrainCorp (GNC) is off by 3.05pct or 23cents to $7.32 after news out yesterday that delivery of wheat and other winter grains slowed sharply over the past week, due to the heavy rains and flooding.

The Australian dollar (AUD) is around 0.5 cent stronger than this time last week and currently buys US99.1cents.