Paris | Reuters — Louis Dreyfus Co. (LDC) could nearly double annual investments in the coming years as rising profits help it pursue expansion in its traditional crop trading and newer food-ingredient activities, its CEO told Reuters. The group on Wednesday reported a jump in annual net profit to $1 billion, joining other global crop […] Read more
Dreyfus to step up spending after earnings boost
'Complementary' acquisitions envisioned
Saudi Arabia completes first phase of flour mill privatization
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
P+H to challenge regulators’ request for elevator sale
Case to be heard sometime at later end of fall
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
Major grain traders’ e-transaction platform gets name
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
P+H to buy Louis Dreyfus’ Prairie elevators
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
Major grain traders face one-two punch from U.S. floods, trade war
Chicago | Reuters — Severe U.S. weather likely dented earnings for large grain companies including Archer Daniels Midland and Bunge for a second straight quarter, adding to headwinds from a still-unresolved U.S.-China trade war, analysts and economists said. ADM and Bunge, as well as peers Cargill and Louis Dreyfus, known as the ABCD quartet of […] Read more
Louis Dreyfus could consider selling stake to regional player
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
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
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
Bunge profit dives as grain glut hits margins
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
Cyber-Savvy Farmer
