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Tag Archives dreyfus

Cereals, Crops, Markets, Reuters

Saudi Arabia completes first phase of flour mill privatization

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Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its […] Read more
(FITTrials.com)
Crops

P+H to challenge regulators’ request for elevator sale

Case to be heard sometime at later end of fall

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Grain firm Parrish and Heimbecker aims to keep its now-expanded Prairie elevator network intact against a proposed order from federal antitrust regulators. Winnipeg-based, privately-held P+H in September announced a deal to buy all 10 of the primary Prairie grain elevators built by agrifood giant Louis Dreyfus Co. between 1998 and 2003. The two companies have […] Read more
Covantis developers said they met with industry stakeholders in Brazil in October to discuss how their system would apply in soybean traffic between Brazil and China. (Covantis.io)
Crops, Markets

Major grain traders’ e-transaction platform gets name

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The blockchain-based global commodity transaction platform being developed by six of the world’s biggest agrifood firms is moving ahead with a new name and project leader. The six companies — ADM, Bunge, Cargill, Louis Dreyfus, Cofco and Glencore Agriculture — announced Wednesday the project will be named Covantis, and have hired former ADM executive Stefano […] Read more
Louis Dreyfus’ grain elevator at Joffre, Alta., northeast of Red Deer. (LDC.com)
Crops

P+H to buy Louis Dreyfus’ Prairie elevators

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Updated — Commodities and agrifood giant Louis Dreyfus Co. is stepping out of the grain handling business it built in Canada with a deal to sell its Prairie elevator network. Louis Dreyfus (LDC) announced Wednesday it has an agreement in place to sell its 10 elevators across Western Canada to Winnipeg grain company Parrish and […] Read more
Louis Dreyfus’ oilseed processing plant at Yorkton, Sask. (LDC.com)
Crops, Reuters

Louis Dreyfus could consider selling stake to regional player

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Paris | Reuters — Louis Dreyfus Co., one of the world’s biggest agricultural commodities houses, may consider selling a stake to a regional player to support its development although there are no specific plans to do so, the company said Friday. Agricultural commodities traders have been grappling with lower profits from sourcing and shipping commodities […] Read more
(ADM.com)
Crops, Reuters

ADM sees weaker ag services outlook on trading woes

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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
(Dave Bedard photo)
Crops, Reuters

Bunge profit dives as grain glut hits margins

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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
(LouisDreyfus.ca)
Crops, Reuters

Dreyfus family members reported asking to be bought out

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London | Reuters –– Members of the founding family of Louis Dreyfus Commodities have asked the majority shareholder of the commodities trader to buy out most of their stake, Britain’s Financial Times newspaper reported Sunday. Quoting sources familiar with the situation, the newspaper said the family members had informed Margarita Louis-Dreyfus of their intention to […] Read more

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