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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
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
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
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
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
Crops, Markets

Ex-Viterra chief dropped as Dreyfus’ CEO-elect

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The terms by which Mayo Schmidt would lead Louis Dreyfus’ commodities business have led the company and its chosen CEO to part ways. Offering no further details, Louis Dreyfus Commodities said Wednesday the company and the former Viterra CEO “have jointly decided not to proceed” with Schmidt taking the helm, “while retaining the highest mutual […] Read more
Crops

New Dreyfus CEO leaves Agrium board

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Mayo Schmidt, the former Viterra chief executive named last month to become CEO of Louis Dreyfus’ global commodities business, has stepped away from the board table at ag input firm Agrium. Calgary-based Agrium, which includes wholesale fertilizer and retail seed, fertilizer and crop protection businesses, announced last Monday (Dec. 22) that Schmidt would resign from […] Read more

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