Reuters — Shares in Chilean fertilizer group SQM plunged Wednesday after three board representatives from Saskatchewan’s PotashCorp resigned in protest at its handling of an illicit payments scandal that has shaken the Chilean establishment. SQM vice-chairman Wayne Brownlee, the chief financial officer at PotashCorp, and two directors stepped down late Tuesday after clashing with the […] Read more
SQM stock plummets after directors from PotashCorp resign
U.S. grains: Corn falls on stronger dollar, ample supplies
Reuters — Corn fell one per cent on Friday and soybeans weakened slightly due to ample supplies and a stronger dollar, which made U.S. exports pricier. U.S. wheat hit a contract low before prices rose modestly due to bargain-buying, traders said. The nearby contract posted a weekly loss of six per cent. Spread trades involved […] Read more
U.S. grains: Wheat falls to five-month low on dollar, big supplies
Reuters — Chicago wheat futures fell to their lowest nearby price in five months on Thursday, pressured by the stronger dollar and huge global supplies. Soybeans fell for the fourth straight session on bleak export prospects in the face of stiff competition, traders said. Corn finished slightly higher. Chicago Board of Trade May wheat dropped […] Read more
Maple Leaf reduces Q4 loss, hikes dividend
Reuters — Meat processor Maple Leaf Foods reported a smaller, but still disappointing, quarterly loss on Thursday, as it worked through a plan to close older packing plants. Even so, the company will double its quarterly dividend to eight cents. CEO Michael McCain said the move reflected confidence in the business outlook. Maple Leaf, one […] Read more
ADM cuts biodiesel output as industry hit by weak margins
Winnipeg/New York | Reuters — Archer Daniels Midland , one of the world’s top biofuels producers, has slowed North American biodiesel output, the latest sign the industry is battling uncertainty over U.S. renewable fuel policy while the oil rout curbs demand. The Chicago-based agri business has “temporarily” shifted production at its Velva, N.D. oilseeds processing […] Read more
Canada seen sowing slightly less canola, more durum
Winnipeg | Reuters — Canadian farmers are leaning toward planting slightly less canola and more durum wheat, a Reuters survey of 12 traders and analysts showed on Monday. Farmers still have plenty of time to change plans for seeding, which starts in most of the Prairies by May, but many have already bought some of […] Read more
Supply management limits growth in Canada, Saputo says
Reuters — Canada’s tightly managed dairy sector limits domestic opportunities for Saputo, the country’s largest dairy, forcing it to focus on growth elsewhere, the company’s chief executive said Thursday. CEO Lino Saputo Jr. emphasized in an interview that the company is not lobbying Ottawa to either dismantle or preserve Canada’s supply management system for dairy, […] Read more
Sask. eyes tougher rules on investor farm buys
Saskatoon | Reuters — Saskatchewan is likely to tighten what are already some of North America’s strictest rules for purchasing farmland, as it looks to fend off big money managers hungry for what they see as a winning investment. The province, whose fertile plains grow more wheat than Argentina, has become the latest front in […] Read more
U.S. grains: Soybeans surge to one-week high on export demand, meal strength
Reuters — Soybeans climbed to a one-week high on Friday with a boost from strong export demand and meal prices, ahead of a key U.S. government crop report next week. Corn also advanced on spillover support from soybeans and export demand, while wheat futures rose on technical buying and in sympathy with corn and soybeans. […] Read more
PotashCorp reviews stakes in fertilizer firms with eye on control
Reuters — Saskatchewan’s PotashCorp, the world’s largest fertilizer producer, is sizing up its chances of gaining control of four companies in which it holds minority stakes, CEO Jochen Tilk said on Wednesday. Saskatoon-based PotashCorp is reviewing its $4.5 billion worth of investments in China’s Sinofert Holdings, Israel Chemicals, Jordan’s Arab Potash and Chile’s SQM. “The […] Read more
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