Global grain trader Archer-Daniels-Midland Co said on Tuesday its third-quarter profit more than doubled, as strong oilseed crushing margins and rising vegetable oil demand boosted its core agricultural services and oilseeds unit. The Chicago-based U.S. grains merchant is anticipating the favorable demand and margin environment to continue supporting results in the fourth quarter and foresees […] Read more
ADM profit more than doubles on strong crush margins, vegoil demand
Italy vetoes sale of seed producer to Chinese-owned Syngenta
Rome | Reuters – Italy has prevented Chinese-owned group Syngenta from buying vegetable seed producer Verisem, government officials said, underscoring Prime Minister Mario Draghi’s commitment to shield key assets from unwanted foreign bids. The decision, made at a cabinet meeting on Oct. 19 but not yet made public, marks the first time Italy has vetoed […] Read more
Corteva launches Brazil biotech soy, tackles Bayer head-on
Sao Paulo | Reuters – Corteva Agriscience said on Aug. 9 it will start selling biotech soybean seeds in Brazil, as it seeks to bolster its presence in the world’s largest producer of the oilseed and tackle German rival Bayer AG. Corteva said its Enlist soybean seeds can resist three weed killers including glyphosate, ammonium […] Read more
Cargill, Continental Grain to buy chicken producer Sanderson Farms for $4.5 bln
Reuters – Commodities trader Cargill Inc and agricultural investor Continental Grain Co will buy chicken producer Sanderson Farms Inc for $4.53 billion, the companies said on Monday, at a time when meat prices have been soaring due to strong demand. The deal would see Sanderson Farms, the third-largest poultry producer in the United States, join […] Read more
Corteva lifts sales forecast on strong demand for crop protection products, seeds
Reuters – Corteva Inc on Thursday raised its net sales forecast for the year after strong demand for crop protection products such as herbicides and insecticides helped the agricultural company beat estimates for the second quarter. Corteva also announced a new $1.5 billion share repurchase program, in addition to a $1 billion buyback announced in 2019, […] Read more
Bayer Q2 misses forecasts as costs, forex effects bite
Frankfurt | Reuters – Bayer shares fell to their lowest levels in more than seven months after the German agricultural and pharmaceuticals group reported lower-than-expected second-quarter core earnings due to higher production costs and currency headwinds. Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) before special items fell 10.6 percent to 2.58 billion euros ($3.05 billion), […] Read more
Alberta’s agri-food sector can be a ‘global mega-power’
Reading Time: 2 minutes Alberta “is sitting in an ideal position” to be a major player in the international agri-food sector if it seizes the day, says a new report. But the province needs to develop a value-added industry, focus on sustainability and leverage trade deals that the country has negotiated, says the report from the University of Calgary’s […] Read more
Regina scores another business win with pulp mill project
Reading Time: < 1 minute Red Leaf Pulp says it will build “Canada’s first non-wood pulp mill” in Regina by turning wheat straw into compostable cellulose pulp for use in packaging, tissue and other paper products. Construction of the $350-million facility is slated to begin next year. Red Leaf says the fibre produced by the facility can be used as […] Read more
Bowden pulse-processing plant still a go, says new CEO
Investors are being lined up but some ‘milestones’ need to be met for fractionation facility to proceed
Reading Time: 5 minutes Despite recent setbacks, a proposed pulse-fractionating plant near Bowden is moving ahead under new management. The prospect for the facility was thrown into doubt when W.A. Grain & Pulse Solutions was placed into receivership in April. However, prior to that, the Innisfail company, which had spent five years planning the facility and trying to get it off the ground, […] Read more
The plant protein ship hasn’t sailed — but time is running out
Manitoba and Saskatchewan are part of the pulse-processing boom — but in Alberta, nothing
Reading Time: 7 minutes For nearly five years, Chris Chivilo has been ready to break ground on a new pulse-fractioning facility near Bowden. And every year, his plans have been pushed to next year. First, the bottom fell out of the pulse market. Then the capital just wasn’t there. Then the pandemic. But you only get so many ‘next […] Read more
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