Reuters — Global grains trader Bunge appointed one of a slew of new board members as its acting CEO on Tuesday and cut its 2018 earnings forecast as the U.S.-China trade war battered soybean prices and devalued the company’s inventory in Brazil. Gregory Heckman, a founding partner of private investment firm Flatwater Partners and former […] Read more
Bunge names acting CEO, cuts 2018 guidance
Another new elevator for Alberta
Reading Time: < 1 minute The investment in Western Canada’s grain sector continues to grow. G3 Canada recently announced another new elevator, this time in Morinville. The news came just two months after the company announced plans to build an elevator near Carmangay. Construction on that elevator is underway as well as at a third G3 facility at Wetaskiwin. The […] Read more
Is China buying U.S. soy? Washington shutdown keeps traders guessing
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
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
Bunge reportedly ready to replace CEO
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 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
Cyber-Savvy Farmer
