One of the Prairies’ biggest grain handlers has pledged to boost the handling and rail capacity at two of its inland terminals. Glencore Agriculture’s Viterra arm announced Thursday it plans to upgrade its elevators at Stettler, Alta., about 80 km east of Red Deer, and at Binscarth, Man., about 120 km southeast of Yorkton, Sask. […] Read more
Viterra to boost two Prairie elevators’ capacity
Growing projects putting down roots around elevators
Reading Time: 2 minutes Volunteers at a trio of Canadian Foodgrains Bank growing projects in Alberta won’t have to go far to deliver their harvests this fall. Viterra is providing 400 acres around three of its Alberta grain terminals (and another three in Saskatchewan) for growing projects this year. “We’ve had a long-standing partnership with Viterra,” said John Longhurst, […] Read more
Richardson pullout roils canola sector
Alberta Canola backs council, saying its marketing efforts and agronomic support are key to canola’s success
Reading Time: 3 minutes Richardson International’s decision not to renew its membership means a big financial hit for the Canola Council of Canada, but it could have been even worse. According to several reliable sources, Viterra had planned to leave too, but changed course — possibly because of a big cut in membership fees. Losing Canada’s two biggest grain […] Read more
Grain company hunt goes on for Glencore
Geneva | Reuters — Commodities giant Glencore has made unsuccessful moves for three or four smaller targets in the grain sector this year as it seeks acquisitions to grow upstream, the head of its agricultural arm said. “We have looked at three or four possibilities in our core area already this year but couldn’t reach […] Read more
Bunge shares jump on report of Glencore standstill agreement
Reuters — Shares of U.S. commodities trader Bunge surged on Friday after the Wall Street Journal reported that Glencore had a standstill agreement that temporarily prevents the Swiss company from making a hostile bid for Bunge. Bunge had rebuffed a takeover approach by Glencore in May. Speculation has swirled for months that Glencore would make […] Read more
Viterra pledges land for grow project
Reading Time: < 1 minute Viterra is providing the Canadian Foodgrains Bank with 42 acres of land to farm at its terminals in Stettler and Balgonie, Sask. The Foodgrains Bank, a partnership of 15 churches and church agencies working to end global hunger, has found local farmers to farm the land. Once harvest is complete, the proceeds of the sale […] Read more
Glencore looking to expand agriculture business, CEO says
Cham, Switzerland | Reuters –– Miner and trader Glencore is looking to expand its agriculture business via its partnership with two Canadian funds, the company’s CEO said on Wednesday, but has no plans to move into any commodities it does not already trade. CEO Ivan Glasenberg was speaking a day after U.S. grains trader Bunge […] Read more
Glencore approaches Bunge on possible takeover
Reuters — Glencore Plc said on Tuesday its agricultural unit has made an informal approach to commodities trader Bunge Ltd. about a “possible consensual business combination,” the company said in a statement. The commodities trading firm did not say more about a potential offer that its Glencore Agriculture unit made to Bunge. Glencore, whose Canadian […] Read more
Viterra buys North Dakota elevator
Prairie grain handler Viterra is expanding its reach in eastern North Dakota with a deal for Gavilon Grain’s elevator at Grand Forks. Regina-based Viterra said Monday it has closed its acquisition of Omaha-based Gavilon’s Grand Forks site for an undisclosed sum, and plans “immediate capital upgrades” for the elevator. The Grand Forks site, which was […] Read more
U.S. agribusiness deal not a priority for Glencore
Lausanne | Reuters — Glencore does not see further consolidation in agricultural commodities as straightforward and views a U.S. acquisition as less crucial than in the past, the group’s agriculture chief said Tuesday. The diversified trading and mining group had pointed to the possibility of making bolt-on acquisitions after posting improved results for 2016 and […] Read more
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