Reuters — Global commodities trader Cargill will sell its crop insurance business to the Silveus Insurance Group next month, the two companies said Tuesday. The deal will close the second week in January, said Tyler Silveus, CEO for Silveus, based in Warsaw, Indiana. “We are not disclosing terms of the deal, other than we are […] Read more
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Cargill to sell crop insurance unit to Silveus
Dreyfus, Cargill win Brazil port space
Sao Paulo | Reuters –– Louis Dreyfus Commodities and Cargill won an auction on Wednesday to operate a grain terminal at Santos Port for 25 years, while Fibria SA and Marimex won rights to operate pulp areas there leased from Brazil’s government. The three port areas were the first of 93 nationwide that the government […] Read more
Cargill said restructuring, cutting jobs
London | Reuters –– Cargill Inc., one of the world’s largest privately held corporations, has launched a restructuring that includes job cuts, one company source and four industry sources said Friday, the latest casualty of a downturn in the farm economy. The 150-year-old company, a top commodities trader, is also closing offices, two of the […] Read more
Brazil’s JBS concludes acquisition of Cargill pork unit
Sao Paulo / Reuters – Brazilian meatpacker JBS SA said on Friday it had concluded its $1.45 billion acquisition of Cargill Inc’s U.S. pork assets without any restrictions from regulators, a deal that makes it one of the largest meat companies in the United States. UPDATE: Cargill Illinois hog processing plant offline until Monday Chicago / […] Read more
Cargill Q1 profit jumps despite commodities slump
Chicago | Reuters — Global commodities trader Cargill Inc. effectively navigated tumbling commodities markets and volatile currencies to turn in a 20 per cent gain in first-quarter profit, the privately held company said Wednesday. The Minnesota-based company’s grain and oilseed supply chain and energy businesses were standouts in the quarter ended Aug. 31, in stark […] Read more
Ardent to buy major Ontario soft wheat mill
The owner of Canada’s Robin Hood flour mills is poised to buy the biggest soft wheat milling operation in the country. Ardent Mills, the joint North American flour venture of agrifood giants Cargill, CHS Inc. and ConAgra, announced Thursday it will buy the former Kraft Milling operation in Mississauga, Ont. from Mondelez Canada for an […] Read more
Tyson cuts beef production due to cattle shortage
Reuters — Tyson Foods on Friday said it is permanently ceasing beef production at its plant in Denison, Iowa, effective immediately, as cattle ranchers work to rebuild shrunken herds following the severe Midwestern drought. The move by Tyson, the biggest U.S. meat processor, will affect 400 employees at the plant, which will continue byproduct rendering […] Read more
Cargill posts Q4 loss on one-time charges, revenue down
Reuters — Cargill Inc. on Thursday became the latest large agribusiness to report disappointing quarterly results as one-time charges and slowing economies in key emerging markets stung the privately held global commodities trader. Minnesota-based Cargill said it lost a net $51 million in the fiscal fourth quarter ended May 31, compared with a profit of […] Read more
U.S. livestock: Hogs near three-week high on export optimism
Chicago | Reuters –– U.S. lean hog futures rose as much as two per cent on Thursday, lifted by large weekly pork export sales and hopes a deal between JBS USA and Cargill could lead to more international shipments, traders and analysts said. Volume was light in an abbreviated session ahead of the U.S. July […] Read more
JBS to buy Cargill’s U.S. pork assets for US$1.45B
Reuters — JBS SA, the world’s largest meat packer, is buying Cargill’s U.S. pork business for US$1.45 billion, free of debt, it said in a statement on Wednesday, a deal that would make it one of the largest and most powerful meat companies in the U.S. The bid by the company’s JBS USA subsidiary comes […] Read more
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