GFM Network News


Mayo Schmidt, shown here in Winnipeg in 2007, has been named CEO of Nutrien. (Dave Bedard file photo)

Ex-Viterra chief Schmidt named Nutrien’s new CEO

Chuck Magro stepping down for 'new opportunities'

Canadian fertilizer and ag retail giant Nutrien has tapped a familiar name in agribusiness to lead the company, as the CEO it’s had since birth steps aside. Saskatoon-based Nutrien said Monday its board has named its current chairman, Mayo Schmidt, as the company’s new CEO. Replacing Schmidt as Nutrien’s chair is Russ Girling, former CEO […] Read more

(Photo: Reuters/Chris Wattie)

Telus’ farm and food sector acquisitions take new shape

Canadian telco giant launches new Telus Agriculture unit

Canadian telco and info tech giant Telus has consolidated its recent — and ongoing — acquisitions in farm tech, ag data management and supply chain management into a single new business unit. The Vancouver company, one of Canada’s “big five” telecommunications firms, on Thursday formally launched Telus Agriculture, billed as “a new business unit dedicated […] Read more


BMO in May 2020 announced an agreement to sell its 107-year-old downtown Winnipeg building to the Manitoba Metis Federation for use as a new Metis Nation Heritage Centre. (File photo by Dave Bedard)

BMO regroups ag banking business

Ag-focused national banking team put in place

With COVID-19 serving to “accelerate” changes in the industry, BMO Bank of Montreal says it has reset its farm banking work under the oversight of an expanded national agriculture and agribusiness banking team. BMO announced the new team approach Oct. 14, describing it as “a national team of agriculture banking specialists — team members with […] Read more

File photo outside Viterra’s downtown Regina office building. (Dave Bedard photo)

‘Glencore Agriculture’ to adopt Viterra brand

Worldwide ag business to rebrand later this year

A trademark that Swiss commodity firm Glencore picked up when it bought its way into Prairie agriculture is about to become the global brand for its agribusiness offspring. David Mattiske, CEO of Glencore Agriculture, announced in a statement Wednesday the company will rebrand the business to Viterra in “late 2020.” The Viterra brand dates back […] Read more


(CdnAgDay.ca)

Ottawa’s Agriculture Day gathering a sector-wide affair

Agriculture Day celebrations across Canada on Tuesday included a conference in Ottawa with roughly 500 attendees from across the ag sector. Hosted by Agriculture More than Ever, the event aimed to bring together people involved in agriculture, food and agribusiness. “We’re having a gathering to celebrate Canadian agriculture and food and the contributions that we […] Read more

(Dave Bedard photo)

Bunge profit tops estimates on South American results

Chicago | Reuters — Agricultural commodities trader Bunge reported a stronger-than-expected quarterly profit on Wednesday as rising crop prices boosted farmer sales in South America and swelled margins in its large agribusiness segment, sending shares up more than three per cent in pre-market trading. But uncertainty about global trade and demand for Bunge’s food and […] Read more



(Staff photo)

La Coop federee to rebrand agribusiness arm

Crop and livestock producers dealing with the agribusiness division of Quebec’s La Coop federee can expect to see a new name in the game early next year. La Coop announced Sept. 25 it will change the name of the division — which today operates under the Elite and La Coop brand names — to Sollio […] Read more


(Dave Bedard photo)

Bunge profit dives as grain glut hits margins

Chicago | Reuters –– U.S. agricultural trader Bunge reported on Wednesday a sharply lower first-quarter profit and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, N.Y.-based Bunge said net income available to shareholders plunged 82 per cent […] Read more

(BungeMOE.com)

Bunge expects bounce from record U.S. harvest

Chicago | Reuters — U.S. agricultural products trader Bunge said Wednesday it expects the record-large U.S. corn and soybean harvest to help its earnings rebound from a weaker-than-expected third quarter. The company’s shares surged despite reporting disappointing results on Wednesday due to weather-reduced crops in South America, home to many of Bunge’s elevators and processing […] Read more