Cham, Switzerland | Reuters –– Miner and trader Glencore is looking to expand its agriculture business via its partnership with two Canadian funds, the company’s CEO said on Wednesday, but has no plans to move into any commodities it does not already trade. CEO Ivan Glasenberg was speaking a day after U.S. grains trader Bunge […] Read more
Glencore looking to expand agriculture business, CEO says
Glencore approaches Bunge on possible takeover
Reuters — Glencore Plc said on Tuesday its agricultural unit has made an informal approach to commodities trader Bunge Ltd. about a “possible consensual business combination,” the company said in a statement. The commodities trading firm did not say more about a potential offer that its Glencore Agriculture unit made to Bunge. Glencore, whose Canadian […] Read more
ADM sees weaker ag services outlook on trading woes
Chicago | Reuters — U.S. agricultural trader Archer Daniels Midland (ADM) on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several key […] Read more
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
Bird flu redirects trade flow of U.S. chicken, eggs, grains
Chicago | Reuters –– Global outbreaks of bird flu in poultry have altered the flow of U.S. chicken meat, eggs and grain around the world, adding to challenges faced by domestic exporters and giving a leg up to Brazil, which has so far escaped the disease. Different strains of avian flu have been detected across […] Read more
Macquarie to buy Cargill’s global oil business
Houston | Reuters — Australian bank Macquarie Group is planning on buying Cargill’s global oil business, according to people familiar with the matter, marking the second energy business the global commodities trader has shed this year. Terms of the deal have been agreed upon, but the integration could take several weeks or longer, one of […] Read more
G3 to proceed with port grain terminal at Vancouver
Winnipeg | Reuters — Canada’s G3 Global Holdings will build a grain terminal at Port Metro Vancouver by 2020, increasing the flow of wheat and canola to Asia and Latin America, the company said on Wednesday. The Winnipeg-based partnership of Saudi Arabian agriculture company SALIC and U.S. grain handler Bunge Ltd/ had been considering the […] Read more
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
ADM profit jumps on higher U.S. grain exports
Chicago | Reuters — U.S. agricultural products trader Archer Daniels Midland on Tuesday reported a far better-than-expected third-quarter profit as higher U.S. exports of corn and soybeans boosted volumes and margins, sending shares up sharply. U.S. farmers have nearly completed what is expected to be the largest corn and soybean harvests on record, which should […] Read more
Soybeans trip up top traders, prompt rare offer to U.S. farmers
Chicago | Reuters — Two of the world’s biggest agricultural trading houses bungled crop sales they made on behalf of U.S. farmers this year because of what one described as “unique” price moves for soybeans, prompting both to take rare steps to keep disgruntled customers. Every year, hundreds of U.S. farmers trust major grain traders, […] Read more
Cyber-Savvy Farmer
