Paris | Reuters — The agricultural trading industry can expect more consolidation at a regional level in an effort to improve margins, but big deals between global merchants are becoming more difficult, Louis Dreyfus’ CEO said. Merchants have been grappling with lower profits from sourcing and shipping commodities such as grain and oilseeds, prompting cutbacks […] Read more
Grain trade regional tie-ups seen more likely over mega-deals
U.S. farm belt slammed by floods, heavy snow from bomb cyclone
Reuters — A harsh late-winter storm broadsided a vast swath of the U.S. agriculture industry this week as heavy snow closed roads and buried cattle in the Plains while excessive rain flooded Midwest fields and swamped grain elevators. A “bomb cyclone” hurled hurricane-force winds, sparked tornadoes and dumped heavy snow and rain across the Plains […] Read more
Pacific pact spurs Canadian ag sales to Japan as U.S. watches
Winnipeg | Reuters — At the Canadian embassy in Tokyo last month, beef promoters flew in a chef from Canada to cook New York strip steaks for hungry Japanese importers and restaurant suppliers. The annual Canadian beef buffet reception attracted 126 people, up sharply from the usual 30 to 40. A trade deal among Pacific […] Read more
Cargill’s net earnings down as trade fight bites
Chicago | Reuters — Grains trader Cargill on Thursday reported a 20 per cent drop in its fiscal second-quarter 2019 net earnings, as global trade tensions hit the bottom line along with challenges in the Chinese hog sector and a struggling U.S. dairy business. Three of the company’s four business units reported results that were […] 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
European malting giant to buy Cargill Malt business
Cargill’s Prairie Malt plant in western Saskatchewan is destined for new European ownership under a deal publicly proposed Thursday. The Boortmalt Group, the malting arm of French agricultural co-operative Axereal, has announced its “intention to enter into an agreement” to buy Cargill Malt from the U.S. agrifood firm for an undisclosed sum. Boortmalt, which bills […] Read more
La Coop federee’s Ontario grain play cleared
La Coop federee’s plans to expand into southern Ontario’s grain handling and crop input retail sectors are now down by four retail sites. The federal Competition Bureau said Tuesday it has an agreement in place for its approval of a deal which will see Cargill’s Ontario grain and ag retail outlets and its joint-venture stake […] Read more
Beef demand, crush margins boost Cargill’s Q1 ledger
Reuters — Grains trader Cargill reported a nearly five per cent rise in quarterly profit on Thursday as global demand for beef and improved oilseed crushing results offset challenges in several business units. But Cargill also faced various headwinds across the company — particularly in its protein and food ingredients units, both of which have […] Read more
Florence shuts down U.S. slaughterhouses
Chicago/Los Angeles | Reuters — U.S. food companies kept slaughter plants shut on Monday in southeastern states swamped by Hurricane Florence as flash floods collapsed the walls of at least two hog manure pits, made roads undriveable and delayed rail shipments. Catastrophic flooding from Hurricane Florence, which has dumped up to 36 inches of rain […] Read more
Sustainable beef pilot continues to expand
The program has a new customer and is poised to expand into Ontario
Reading Time: < 1 minute The payment to producers fell slightly, but the sustainable beef pilot attracted a new restaurant chain and Ontario producers will soon be able to participate. The Canadian Beef Sustainability Acceleration pilot project, launched last fall, tracks cattle and beef produced under certified sustainability standards from ranch to retailer. In the latest quarter, more than one […] Read more
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