Chicago | Reuters –– Commodity traders are in the dark because of the partial U.S. government shutdown, unable to see daily and weekly reports of agricultural exports to obtain clues as to whether China is following through with promises to buy grain and soy amid the ongoing trade war. Traders have been anxiously awaiting proof […] Read more
Is China buying U.S. soy? Washington shutdown keeps traders guessing
U.S. ethanol producers seek reforms as markets plunge, ADM sells
New York/Chicago | Reuters — U.S. ethanol producers stung by collapsing prices are seeking changes to the way benchmark values for the biofuel are established, arguing the current system used by exchanges is vulnerable to manipulation, according to sources. The push comes as the key farm belt industry struggles with weak demand growth, a loss […] Read more
Bunge CEO Schroder to step down amid investor pressure
Reuters — Bunge CEO Soren Schroder is stepping down after five years at the helm of the global agribusiness, following months of pressure from shareholders to shake up the company amid a prolonged grain market slump. The management change is the latest event to rattle the two-century-old commodities trader after a stretch of particularly weak […] Read more
ADM profit tops estimates on export sales, oilseeds
Reuters – Archer Daniels Midland Co reported a bigger-than-expected quarterly profit on Tuesday, as the U.S. grain merchant made export sales to buyers in countries other than China during an escalating trade war between Washington and Beijing. Strong margins for oilseeds crushing also boosted earnings. The United States and China have imposed tariffs on hundreds […] Read more
Fund raises stake in Bunge, reportedly pushing for change
Reuters — Hedge fund D.E. Shaw and Co. has raised its stake in Bunge and was working with Continental Grain to make operational improvements at the grain trader, the Wall Street Journal reported, citing people familiar with the matter. Bunge’s shares were up 2.5 per cent at US$70.64 on Monday. The firms, which together own […] Read more
ADM ramps up ethanol sales in Chicago, irking rivals
New York/Chicago | Reuters — Archer Daniels Midland has sold unusually high volumes of ethanol into the Chicago market since late last year as export markets dried up, driving down prices in the U.S. Midwest and angering the company’s rivals, according to traders and regulatory data. The Illinois-based global commodities powerhouse, a major ethanol producer, […] Read more
ADM to buy French animal feed business Neovia
Paris/Chicago | Reuters — Archer Daniels Midland Company (ADM) is in exclusive talks to take over French animal feed business Neovia for 1.5 billion euros (C$2.3 billion) as part of the U.S. farm giant’s strategy to expand in the fast-growing animal nutrition sector. Neovia is majority owned by French cooperative group InVivo. Investment group Eurazeo […] Read more
Pulse weekly outlook: Processing boom to help in long run
CNS Canada — Even with one new pulse processing plant on line in Western Canada and more on the way, producers will still have to wait before these new ventures have a significant effect on marketing of their pulse crops. Numerous pulse processing plants have been announced in the last year. French company Roquette broke […] Read more
China retreats from U.S. sorghum probe amid global market havoc
Beijing | Reuters — China dropped its anti-dumping probe into imports of U.S. sorghum on Friday, beating a hasty retreat from a dispute that wreaked chaos across the global grain market and raised concerns about rising costs and financial damage at home. The move was seen as a goodwill concession as Chinese Vice-Premier Liu He […] Read more
Trade rows spell gain, and pain, for U.S. grain exporters
Chicago | Reuters — Global grain marketers have seized upon trade tensions between the United States and several of its top export markets, including China, to turn around struggling trading units following one of the toughest years ever for the industry. After five years of bumper harvests worldwide that depressed crop prices, trading margins are […] Read more
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