GRAINCORP believes it can fend off any takeover bid by running its business as best as it can.
GrainCorp chief executive Alison Watkins said takeover speculation had been around for a long time, but she was not concerned.
"The best thing for us is to run our business as well as we possibly can," Ms Watkins said.
"That's the best defence for a takeover because an acquirer can't look at you and say I can do that better."
Speaking after an American Chamber of Commerce luncheon last week, Ms Watkins also said there were no plans for acquisitions that would build the company into a bigger global business.
"I always think it is not about being the biggest," she said. "We would be very cautious about acquisitions.
"We don't have a cheque book as big as those guys (Glencore, Cargill, etc). Nor would it be responsible for our current investors."
The last big acquisition was the United Malt Holdings group in 2009.
Ms Watkins said the purchase occurred before she joined GrainCorp but it had been a "terrific acquisition", giving GrainCorp diversity in operations and income.
Ms Watkins said last year, the company's earnings before interest, taxation, depreciation and amortisation was about $350 million and the net profit after tax was $172 million.
"This year we are expecting results that are of that kind of level again because the crop size this year is a good one but not as large as last year," she said.
"We now have 50 per cent of grain sales offshore and 90 per cent of malt sales outside Australia as well."
