While G3 Global Grain Group is set to scoop a majority stake in CWB, grain farmers will be able to hold onto some equity in the former Canadian Wheat Board over the next seven years at the least. G3 is a new joint venture between Bunge Canada and Saudi Agricultural and Livestock Investment (SALIC) Canada, […] Read more
Guenther: Farmers keep minority stake in CWB, for now
Bunge, Saudi Arabia to buy control of CWB
Agribusiness giant Bunge and the Saudi Arabian government’s ag investment arm are the joint “successful acquirer” of the former Canadian Wheat Board. Bunge Canada and SALIC Canada, an arm of the Saudi Agricultural and Livestock Investment Co., on Wednesday announced their new Winnipeg-based joint venture, G3 Global Grain Group, will pay $250 million to CWB […] Read more
Top court’s dismissal halts farmers’ suit over CWB assets
The bulk of a proposed class action by four Prairie farmers, over what they called the federal government’s “expropriation” of Canadian Wheat Board assets, has hit its final wall. The Supreme Court of Canada on Thursday dismissed, with costs, the farmers’ application for leave to appeal their 2013 loss in Federal Court. The four — […] Read more
CWB’s new laker boat opens St. Lawrence Seaway
The first of CWB’s new laker vessels marked the official opening of the St. Lawrence Seaway for 2015 on Thursday, passing through the South Shore Canal’s St. Lambert Lock near Montreal. The seaway navigation season’s official opening had previously been set for March 27, but officials opted in early March to put off the opening […] Read more
CWB sees global grain crops falling back from records
Geneva | Reuters — The world’s wheat crop will shed three per cent this year to 703.4 million tonnes from last year’s record, but it will still remain above the five-year average, grain marketing company CWB estimated on Wednesday. The global 2015 corn crop should fall 1.6 per cent from a record last year to […] Read more
State of Prairie winter wheat still unknown
CNS Canada — Snow cover is rapidly disappearing across Western Canada, but it will still be a few weeks until the extent of any damage to winter wheat across the Prairies is fully known. “It’s still wait-and-see,” said analyst Bruce Burnett of Winnipeg grain firm CWB. The crop won’t start re-growing until the overnight temperatures […] Read more
CWB building sold: reports
CNS Canada — The former Canadian Wheat Board’s downtown Winnipeg office building has been sold, according to media reports. The eight-story building on Main Street was bought by Calgary-based Hopewell Development, reportedly for $9.7 million. The former wheat board, now called CWB, will continue to lease two floors of the building. The sale was initially […] Read more
Mild weather poses risks for Prairie winter wheat
CNS Canada — Milder-than-normal temperatures across Western Canada over the past week could raise some issues for its winter wheat crops, though snow cover and conditions through the rest of the winter will also be important. “It’s not ideal conditions for winter wheat, and I’d anticipate that we’d see some damage,” said CWB analyst Bruce […] Read more
CWB seeks partner with grain handling expertise, money
The grain firm formerly known as the Canadian Wheat Board wants it known the company’s looking for an industry partner, not a new owner — and not just any partner. Aiming to scotch what it calls “speculation and inaccuracies” in recent reports about its future and its plans for full commercialization, CWB laid out its […] Read more
First of CWB’s laker vessels en route to Canada
The grain company formerly known as the Canadian Wheat Board expects to have its first of two laker vessels in Canadian waters by the end of the year. CWB announced Monday it took delivery of the first vessel, an Equinox-class boat dubbed the Marquis, effective Oct. 31, and expects it to sail through the Panama […] Read more
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