Bunge Archives | Alberta Farmer Express

Saudi Arabia completes first phase of flour mill privatization

By Saeed Azhar, maha-el-dahan, Tom Arnold, GFM Network News 4 days ago

Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its […] Read more

Crops, Reuters

Bunge to sell 35 U.S. elevators to Zen-Noh Grain

By Karl Plume, GFM Network News April 22, 2020

Chicago | Reuters — Agricultural commodities trader Bunge said on Tuesday it will sell 35 of its interior U.S. grain elevators to Zen-Noh Grain, dramatically reducing its grain origination network in the United States. Financial details of the sale with the subsidiary of Japan’s Zen-Noh Group were not disclosed, and the deal is subject to […] Read more

Crops, Markets, Reuters

Bunge profit tops estimates on South American results

By Karl Plume, GFM Network News February 12, 2020

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

Canola, Crops

Supercluster backing canola protein production

By GFM Staff January 16, 2020

The federally-backed research and development “supercluster” set up to boost Canada’s protein industries is funding work to wring more and better proteins out of canola seed. In Saskatoon on Wednesday, federal Industry Minister Navdeep Bains announced the Protein Industries Canada (PIC) supercluster has approved a new $27.6 million project to breed high-protein canola hybrids for […] Read more

Crops, Markets

Major grain traders’ e-transaction platform gets name

By GFM Staff December 5, 2019

The blockchain-based global commodity transaction platform being developed by six of the world’s biggest agrifood firms is moving ahead with a new name and project leader. The six companies — ADM, Bunge, Cargill, Louis Dreyfus, Cofco and Glencore Agriculture — announced Wednesday the project will be named Covantis, and have hired former ADM executive Stefano […] Read more

Reuters

Bunge shares slide as China trade war, pig disease upset exports

By Arundhati Sarkar, Tom Polansek October 30, 2019

Reuters – Agricultural merchant Bunge Ltd warned on Wednesday of a drop in annual profits due to mounting challenges to its grain trading and processing business from the U.S.-China trade war and a fatal pig disease in Asia, sending shares down more than 4 percent. The company reported better-than-expected third-quarter profits, driven by higher margins […] Read more

Crops, Reuters

Big Ag wants a cut of booming fake-meat market

By Rod Nickel, Tom Polansek September 11, 2019

Winnipeg/Chicago | Reuters — Bunge, one the world’s biggest grain traders, recently disclosed the 1.6 per cent stake it had purchased in the fast-growing fake-meat startup Beyond Meat. The play looked smart after the stock surged more than 250 per cent since the faux burger and sausage maker’s initial public offering in May. Indeed, Beyond […] Read more

Crops, Markets, Reuters

Bunge CEO looks to avoid ‘stroke-of-the-pen’ risk in ongoing trade war

By Karl Plume August 20, 2019

Chicago | Reuters — A year removed from a losing bet that the U.S.-China trade war would be promptly resolved, global grains trader Bunge is facing an even more uncertain business environment, with a new CEO determined not to get burned again. Gregory Heckman, who joined Bunge’s board late last year and took on the […] Read more

Reuters

Bunge posts profit on South America, gain from Beyond Meat investment

By Karl Plume July 31, 2019

Chicago | Reuters – Agricultural commodities trader Bunge Ltd swung to a profit in the second quarter from a year-ago loss, helped by improved results at its South American operations. Bunge also reported an unrealized gain from the company’s stake in Beyond Meat Inc, meaning it could profit from the plant-based burger venture if it sells its nearly […] Read more

Crops, Markets, Reuters, Weather

Major grain traders face one-two punch from U.S. floods, trade war

By Karl Plume July 10, 2019

Chicago | Reuters — Severe U.S. weather likely dented earnings for large grain companies including Archer Daniels Midland and Bunge for a second straight quarter, adding to headwinds from a still-unresolved U.S.-China trade war, analysts and economists said. ADM and Bunge, as well as peers Cargill and Louis Dreyfus, known as the ABCD quartet of […] Read more

Prairie livestock vet named B.C.’s chief veterinarian

U.S. livestock: Hog futures weaken, cattle futures advance

Beef Breeds Council becomes arm of CCA

GFM Network News