Reuters — The U.S. Justice Department on Friday urged a regulator to reject a voting trust Canadian Pacific Railway (CP) has proposed as part of its takeover bid for U.S. railway Norfolk Southern, saying it could hurt competition and would violate rules. In mid-November, CP disclosed a $28 billion offer for the Virginia-based company, which […] Read more
U.S. Justice Dept. urges rejection of CP voting trust
Cargill books higher profits, warns of tough markets
Reuters — U.S. agricultural commodities trader Cargill on Thursday reported a rise in third-quarter profit on stronger results in food ingredients and grain handling, but warned about headwinds from oversupplied grain markets and low commodity prices. The privately-held company is exiting lower-margin operations, including its U.S. pork business, and expanding deeper into food ingredients and […] Read more
Glencore sells 40 per cent of agribusiness to CPP
London | Reuters –– Commodity miner and trader Glencore has agreed to sell 40 per cent of its agricultural unit to Canada’s state pension fund for US$2.5 billion, the company’s latest step to cut debt and soothe investor concerns about the impact of weak commodity prices. The sale values the agricultural unit as a whole […] Read more
CPP reported in talks for stake in Glencore agribusiness
Reuters — Commodity trading and mining firm Glencore is in advanced talks to sell a stake in its agricultural business to the Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported, citing people familiar with the matter. The CPPIB would take a stake of up to 40 per cent, valuing the business at […] Read more
Oats’ buyers, sellers far apart on price
CNS Canada — Farmers with oats to sell and end-users willing to buy them are far apart in terms of price right now, limiting how much business is actually taking place. Major U.S. customers are well covered for the time being, “with enough to last for a few months worth of milling,” said Ryan McKnight […] Read more
Transport review urges scrapping railway grain revenue cap
Winnipeg | Reuters — Ottawa should phase out over seven years its cap on the amount of revenue railways can earn transporting grain, a study for the Canadian government recommended Thursday, a move long urged by railways and opposed by farmers and grain handlers. A review of Canadian transportation laws, aimed at modernizing the system, […] Read more
Prairie farmers seek answers to the $6.5 billion question
CNS Canada –– The Canadian Wheat Board single desk has now been gone for 3 1/2 years, but there are still some in the Prairie farming community who would like to see it brought back. Whether that’s actually possible is a question for another time — but the data being used to make the case […] Read more
Ritchie Bros. buys Mascus online equipment sites
The Canadian operators of the world’s biggest equipment auctioneer have bought worldwide online equipment listing service Mascus. Burnaby, B.C.-based Ritchie Bros. announced Friday it has bought 100 per cent of the equity in Amsterdam-based Mascus for 24 million euros (C$36.8 million), plus up to 3.4 million euros (C$5.2 million) more, pending certain performance targets being […] Read more
Save on winter cattle feeding costs
Feeding oats or barley along with straw can be much cheaper than hay
Reading Time: 2 minutes Switching from hay to a combination of straw and grain prior to calving can save about $350 a head during the winter, says provincial beef and forage specialist Barry Yaremcio. “The question then becomes: Is it cheaper to feed oats or barley to the cows?” The answer to that question depends on the price and […] Read more
Smaller vessels bump up ocean freight index
Reuters — The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, marginally rose on Friday on improved rates for smaller vessels. The overall Baltic Dry Index (BDI), which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer, rose for the sixth consecutive session by […] Read more
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