Under the arrangement, Glencore will fund seeding payments, bringing AACL's bank balance up to around $53 million.

The Mallesons team, led by partners Hal Bolitho and Nicholas Pappas, drafted the grain pre-purchase and marketing agreements, as well as charges for the new arrangement.

Bolitho said of the deal: "The real challenge in this transaction was being able to move quickly whilst retaining sufficient flexibility in the arrangements so that Glencore could assist AACL and Macro Funds in the time frame required."