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(Photo courtesy Canada Beef Inc.)
Crops, Markets

China approves corn export permits to two companies

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Beijing | Reuters –– China has given approval to at least two companies to export corn, two sources with knowledge of the matter said, in a radical move by the world’s No. 2 producer to cut its ballooning surplus that could add more supply to a saturated global market. The move threatens to push U.S. […] Read more
Shanghai’s Pudong business district, shown here, is home to COFCO Agri’s Chinese trading office. (CIA.gov)
Crops, Markets

China’s COFCO to open Canadian grain office by autumn

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Winnipeg | Reuters — China’s COFCO Agri will open a Canadian crop trading office in Winnipeg by the time farmers harvest their new crops, the state-owned agricultural trader said Tuesday. The new office, which Reuters reported earlier this month, will focus on trading canola and its processed products oil and meal, as well as wheat, […] Read more
(Dave Bedard photo)
Crops

CPP reported in talks for stake in Glencore agribusiness

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Reuters — Commodity trading and mining firm Glencore is in advanced talks to sell a stake in its agricultural business to the Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported, citing people familiar with the matter. The CPPIB would take a stake of up to 40 per cent, valuing the business at […] Read more
Noble Group, whose ag assets include this sugar mill in Brazil, is set to become a fully-owned arm of China’s COFCO. (ThisIsNoble.com)
Crops

Noble exits ag markets with unit sale to China’s COFCO

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New York | Reuters –– Noble Group said Tuesday it has agreed to sell its remaining 49 per cent stake in its agribusiness to China’s state-owned COFCO International, exiting agricultural markets as the Asian commodity merchant seeks to slash debt and shore up cash. The $750 million cash deal will hand COFCO full ownership of […] Read more
G3 CEO Karl Gerrand, shown here in April in Winnipeg, said the company isn’t particularly interested in making a move on Glencore’s Viterra assets. (Dave Bedard photo)
Crops, Markets

Not much interest in Glencore ag assets at grain firm G3

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Winnipeg | Reuters –– Grain handler G3 Canada, a joint venture between a Saudi Arabian firm and Bunge Ltd., doesn’t have much interest in bidding for a stake in rival Glencore’s agricultural business, its chief executive said Tuesday. Swiss-based Glencore, the trader and miner whose shares have been battered by the commodities slump, is looking […] Read more
(Photo courtesy Canada Beef Inc.)
Crops, Markets

China to stockpile corn during 2015-16 at lower price

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Beijing | Reuters — The Chinese government will continue its controversial corn stockpile policy during 2015-16 and will start to stock the grain from farmers at a lower price compared with last year, government bodies said in a statement late Friday. Beijing will pay 2,000 yuan (C$414) per tonne to farmers in the northeast, the […] Read more

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