Reuters — Bunge Ltd. is preparing to replace its CEO Soren Schroder as the global grains trader faces investor pressure, the Wall Street Journal reported on Friday, citing sources. The company is expected to announce the CEO’s departure in the coming days, the report said, citing people familiar with the matter. The grains trader was […] Read more
Bunge reportedly ready to replace CEO
Bunge names Syngenta CEO to board under deal with activist investors
Chicago | Reuters — Bunge Ltd. appointed the CEO of agrichemicals company Syngenta to its board on Wednesday as part of an agreement with activist investors D.E. Shaw and Continental Grain Co. The global grains trader named J. Erik Fyrwald as a director, as it navigates low crop prices and the trade war that has […] 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
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
U.S. grains: Soybeans drop on bleak export view
Chicago | Reuters –– U.S. soybean futures fell on Wednesday on concerns about decreased export demand from China as well as rising expectations for a bumper crop in Brazil, traders said. Wheat futures were mixed. Soft red winter wheat offerings eased after a rally on Tuesday while hard red winter wheat contracts rose due to […] Read more
Argentina exports biodiesel to Canada after U.S. imposes tariffs
Buenos Aires | Reuters — Argentine biodiesel producer Ecofuel exported 29,000 tonnes of biodiesel to Canada in March and plans to make a new shipment of the same volume to the country this month, an advisor to biofuels industry group Carbio said Friday. The deal, which marks Argentina’s first biodiesel exports to Canada, comes after […] Read more
G3 has a new CEO
There’s been a change at the top of Canada’s newest major grain company. G3 Canada’s CEO Karl Gerrand left the grain company Tuesday and has been replaced by Don Chapman, the Manitoba Co-operator has learned. G3 in 2015 purchased 50.1 per cent of the Canadian Wheat Board from the federal government and brought in Gerrand, […] Read more
Continental Grain to push Bunge to consider potential sale
Chicago | Reuters — U.S. agricultural investor Continental Grain plans to push Bunge to consider a potential sale, a person familiar with the matter said on Monday, after Archer Daniels Midland approached Bunge about a takeover. It was unclear how Continental Grain would pressure Bunge, one of the world’s top agricultural merchants. But the company, […] Read more
Bunge board backs management after earnings miss, CEO says
Chicago | Reuters — Agricultural merchant Bunge reported a worse-than-expected loss for the fourth quarter on Wednesday, the latest in a string of poor results that has left the company’s management fending off takeover bids from rivals. Several years of abundant grains supply on global markets have made it tough for Bunge and its rivals […] Read more
ADM in talks to buy Bunge as early as this week
Reuters — Top U.S. grains merchant Archer Daniels Midland could reach an agreement to buy smaller rival Bunge as early as this week, Bloomberg reported on Monday, citing unnamed sources familiar with the matter. The potential deal comes as large grain traders that make money by buying, selling, storing and shipping commodity crops have struggled […] Read more
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