Nufarm has announced a trading halt again this day in expectance of a profit downgrade this afternoon.

Nufarm would then be joining the ranks of Elders in putting the blame on declining profit margins and bad economic weather for failing to meet targets again.

The firm has stuck it out with profits forecasts amounting from $110 million to $130 million, even as Elders and offshoring major player Monsanto have trimmed their figures due to the decline of glyphosphate prices.

Many analysts are already posting below Nufarm's forecasts, John Purtell of Macquarie giving $96 million for the fiscal year ending in July, and Simon Mitchell of UBS rating the firm at $94 million.

The only surprising thing about the profits downgrade is the fact that it had long been expected but only came now.

Details about the profits downgrade have not been disclosed as of yet, however, it is worth to note that Don McGauchie has taken the helm of Nufarm chairman, the former chair of Telstra, taking the seat of Kerry Hoggard.

Mr. McGauchie, known for his direct and no nonsense approach, also became the chairman of Australian Agricultural Company recently.

Mr. Hoggard, as he is about to turn 69 this year, stepped down from his post yesterday due to health reasons.