Chicago | Reuters — Syngenta moved closer to putting a troubled biotech corn seed launch behind it with a US$1.5 billion settlement with farmers this week, but grain traders who filed two remaining lawsuits may be less ready to compromise, legal experts said. The company was sued three years ago by the farmers and traders […] Read more
ADM, Cargill still pursue Syngenta over corn rejections
Strong beef demand lifts Cargill profit for quarter
Chicago | Reuters — Global commodities trader Cargill reported a 14 per cent rise in quarterly profit on Wednesday as strong beef demand and ample supplies of cattle lifted earnings for its animal nutrition and protein segment for a fifth straight quarter. The gains in protein offset a weaker year-on-year result for Cargill’s origination and […] Read more
Prairie canola, soy now in Cargill ProPricing portfolio
Canola and soybean growers in Western Canada are now able to get in on Cargill’s ProPricing grain marketing program for the 2017-18 season. The U.S. agrifood company’s Winnipeg-based Canadian arm announced Sept. 14 it would offer its first-ever canola contract in its ProPricing portfolio, allowing eligible growers to hand off a portion of their canola […] Read more
Cargill CEO sees Harvey not likely weighing much on farm freight
Mexico City | Reuters — Global commodities trader Cargill does not expect a significant impact on freight costs or logistics from the massive flooding caused by Hurricane Harvey in Texas and Louisiana, its top executive said Friday. Cargill CEO David MacLennan said while it was still too early to assess the full impact of the […] Read more
Bunge leaves door open to selling itself, cuts 2017 forecast
Chicago/Reuters – Bunge Ltd kept the door open on Wednesday to a sale of the company as it reported a 34 percent drop in quarterly earnings and cut its full-year outlook, but its chief executive officer predicted a grains market rebound that would reverse the slide. CEO Soren Schroder said planned cost cuts should also […] Read more
Cargill considering bid for JBS’ Pilgrim’s Pride
Sao Paulo / Reuters – Global commodities trader Cargill Inc is considering bidding for Pilgrim’s Pride Corp, a U.S.-based chicken processor controlled by scandal-ridden Brazilian group JBS SA, newspaper O Estado de S. Paulo reported on Wednesday. A JBS representative said Pilgrim’s Pride is not for sale. An emailed request for comments from Cargill went […] Read more
Abu Dhabi fund not eyeing bid for JBS, source says
Abu Dhabi/Sao Paulo | Reuters — Shares of JBS SA erased gains on Friday after a source denied that Abu Dhabi sovereign wealth fund Mubadala Development Co. PJSC was arranging partners to make a bid for control of the world’s largest meatpacker. A person with direct knowledge of Mubadala’s strategy told Reuters that, despite a […] Read more
U.S. beef speeds to China by air as ban ends
Chicago | Reuters –– The first shipment of U.S. beef to China under a new trade deal went airborne on Wednesday, a Nebraska meat company said, just two days after Washington finalized details to resume exports, ending a 14-year ban. Greater Omaha Packing Co. said it shipped beef by plane to China from Nebraska, a […] Read more
Cargill expects grain glut to last long time
Seoul | Reuters –– Commodity firm Cargill expects international grain markets to remain oversupplied for a long time due to bountiful harvests and a rise in storage, the head of the global commodity trader said on Friday. Bumper crops have flooded many markets, dragging on prices for grains and hitting profits at agribusiness giants including […] 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
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