Reuters — Miners that produce a diverse commodity mix may be willing to part with fertilizer assets, creating buying opportunities for producers of potash and phosphate, Mosaic Co. CEO Joc O’Rourke said Tuesday. Profits of fertilizer producers have tumbled because of falling prices, weak currencies in importing countries such as Brazil and excessive supplies. Mosaic, […] Read more
Mosaic CEO sees opportunities to buy miners’ fertilizer assets
North American farmers top up rye plantings as whiskey sales soar
Winnipeg / Reuters – North American farmers are turning back to a neglected crop, sowing fields with the largest rye crop in years partly as consumers satisfy a growing thirst for whiskey. Rye, planted in autumn and harvested in mid-summer, fell out of favour during the past decade as other crops produced bigger profits. But whiskey […] Read more
Saskatchewan premier ‘not satisfied’ with Husky spill response
Saskatchewan Premier Brad Wall said on Wednesday he was not satisfied with Husky Energy Inc’s emergency response to an oil spill into a river that supplies drinking water, and said the western Canadian province needed to consider ways to avoid a recurrence. The spill of 1,572 barrels of oil from a Husky pipeline into the […] Read more
Husky oil spill hits Prince Albert water supply; farmers also scrambling for alternative sources for livestock
Reuters – An oil leak from a Husky Energy Inc pipeline into a major Canadian river has forced a second city in the province of Saskatchewan to stop drawing drinking water, officials said on Monday, widening the impact and cost of the spill. The heavy oil and diluent leaked from Husky’s Saskatchewan Gathering System pipeline on […] Read more
Storms trim potential for big Prairie crops
Reuters — Heavy rain and strong winds are likely to curb the potential for Western Canada’s crops, government officials said, but the harvest may still be bigger than average. Pockets across Saskatchewan, Canada’s biggest wheat- and canola-growing province, received as much as five inches of rain, strong winds and hail since Sunday. The storms flattened […] Read more
Saudi Arabia boosts stake in G3 Canada
Winnipeg | Reuters — Saudi Arabia’s agriculture company has taken control of the majority investor in grain handler G3 Canada Ltd., according to a filing, reducing Bunge Ltd.’s stake and strengthening the kingdom’s efforts to secure food supplies. G3 Global Holdings, the joint venture of U.S. agribusiness Bunge and Saudi Agricultural and Livestock Investment Co. […] Read more
Agrium sees opportunities from major merger talk
Reuters — Agrium, North America’s largest retail seller of products for crop producers, could benefit if some of the biggest makers of seed and agricultural chemicals merge, CEO Chuck Magro said on Wednesday. Responding to a question during a company investor day in Toronto about how possible tie-ups of ChemChina and Syngenta, or of Bayer […] Read more
Ottawa weighs options over U.S. milk proteins
Winnipeg | Reuters — Canada is working on a plan to shore up its sheltered dairy industry, including measures to counter fast-rising imports of milk proteins from the U.S., according to the federal agriculture minister. Any new support risks widening a trade dispute among North America’s dairy farmers over $150 million worth of U.S. milk […] Read more
Saputo eyes Brazil for acquisitions
Reuters — Saputo Inc., one of Canada’s largest dairy producers, has an eye on Brazil for possible acquisitions, and could make deals worth as much as $3.5 billion, its CEO said Thursday. The struggling global dairy industry is fragmented, potentially yielding opportunities, Lino Saputo Jr. said. The company would like to buy cheesemaking plants in […] Read more
U.S. grains: Soy surges on concerns over Argentina soymeal
Reuters — U.S. soybean futures jumped three per cent on Wednesday, the biggest gain for the most-active contract in two weeks, boosted by concerns about a possible shortage of soymeal from Argentina. U.S. wheat futures rose on short-covering and forecasts of unfavourable rain in the U.S. Plains grain belt, while corn advanced to a one-month […] Read more
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