North America’s biggest retail supplier of farm products and services, Agrium Inc , reported record high second-quarter profit on strong demand for crop inputs, but analysts said the severe U.S. drought presents downside risks. National Bank Financial cut Agrium’s rating to "underperform" from "sector perform" on Friday, following a downgrade on Thursday by Dahlman Rose […] Read more
Agrium posts record profit but drought clouds upside
Suitors eyeing CWB but too soon for takeover: Ritz
Canadian Agriculture Minister Gerry Ritz said on Tuesday he is aware of interest from "a couple of entities" in taking over the CWB, just as the company previously known as the Canadian Wheat Board tries to survive without its long-held grain monopoly. "We’ve already had a couple of entities come forward saying they would love […] Read more
Prairie heat moderates, rain to cool crops
A heat wave this week across Western Canada’s canola and grain belt has moderated slightly, and rains forecast into next week should sprinkle some relief onto stressed crops, an agricultural meteorologist said. Temperatures that were forecast to reach around 35 C by midweek came in slightly cooler in some areas, said meteorologist Andrew Owen of […] Read more
Prairie crops seen thriving as U.S. Midwest bakes
As crops wither in the U.S. Midwest, Western Canada’s canola and wheat are thriving in adequate moisture and warm temperatures that are forecast to heat up further later this week. Daytime temperatures will climb as high as the mid-30s C (around 95 F) by midweek, with hot spots in central Manitoba and southern and central […] Read more
Corn, soy snap rally, up sharply for week
U.S. grain markets Friday snapped a furious three-week rally that had sent corn prices up more than a third since mid-June, as a downbeat U.S. jobs report provided an excuse for traders to book profits. Although new U.S. Midwest forecasts showed only marginal relief from what may be the worst drought in a quarter-century, traders […] Read more
Corn rally nears record, soy just off 2008 high
U.S. corn surged nearly four per cent on Thursday, extending one of its biggest rallies ever, while soybeans jumped to within 20 cents of their record high as new forecasts offered no sign of rain relief for withering crops. With fields now at the mercy of what may be the worst U.S. Midwest drought in […] Read more
Prairie fertilizer stocks strained
Reading Time: 3 minutes Canadian farmers’ zeal for planting canola may strain fertilizer supplies, dealers say, as near-ideal sowing conditions and lofty crop prices drive up planting interest in the oilseed. This spring, farmers are expected to sow a record-high 20 million acres or more of canola with the new-crop futures price hitting a recent contract high. Total acres […] Read more
U.S. lapping up Canadian canola oil
Reading Time: 2 minutes Canada’s canola crushers are processing the oilseed at a record-brisk pace, as demand for canola oil heats up among U.S. makers of biodiesel and food products like potato chips. The United States has long been a key export market for canola, Canada’s second-biggest crop after spring wheat, but its appetite has spiked in the past […] Read more
Viterra enters ‘exclusive’ sale talks
Commodities giant Glencore, partnered with Winnipeg’s Richardson International and Calgary’s Agrium, is close to a deal to buy Viterra, a source familiar with the matter told Reuters. Viterra and Swiss-based commodities trader Glencore are still in talks on price, but a deal could be reached within the next 24 hours at a price above $16 […] Read more
Glencore plans three-way Viterra split, source says
Glencore is planning a three-way carve-up of Canada’s largest grain handler Viterra, an industry source said, to help navigate a politically charged federal review process if it wins a looming bidding war for the company. The source told Reuters that the commodity trading giant wanted to buy all of Viterra and then sell its retail […] Read more
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