London | Reuters — Swiss miner and trader Glencore and its partners are looking at options to expand their agricultural joint venture Viterra, including targeted bolt-on acquisitions in the Americas and Australia, two sources close to the matter said. The firm, formerly known as Glencore Agriculture, made the headlines in 2017 for a failed takeover […] Read more
Tag Archives grain trading
Viterra seeking expansion in Americas, Australia, sources say
The Andersons to pay debt, invest in core units after rail business sale
Renewable fuels, specialty foods investments considered
Chicago | Reuters — U.S. grain handler The Andersons plans to use US$550 million from the sale of its rail leasing business to pay down debt and invest in sustainable farming and low carbon initiatives in its core grain and fertilizer units, CEO Pat Bowe told Reuters on Tuesday. Maumee, Ohio-based Andersons sold its rail […] Read more
Glencore’s head barley trader leaves post
Paris | Reuters –– Glencore Agriculture removed head barley trader Mathieu Kleine from his post last week, market sources familiar with the matter said. The grain merchant, which is part owned by diversified commodity group Glencore, dismissed Kleine due to disappointing results, two of the sources said. It was not clear if Kleine was still […] Read more
Major grain traders face one-two punch from U.S. floods, trade war
Chicago | Reuters — Severe U.S. weather likely dented earnings for large grain companies including Archer Daniels Midland and Bunge for a second straight quarter, adding to headwinds from a still-unresolved U.S.-China trade war, analysts and economists said. ADM and Bunge, as well as peers Cargill and Louis Dreyfus, known as the ABCD quartet of […] Read more
Bunge names acting chief as new CEO
Reuters — Global grains trader Bunge on Thursday named Gregory Heckman as its chief executive officer, three months after he took the helm in an interim capacity. Heckman, a founding partner of private investment firm Flatwater Partners and the former chief executive of grains trader Gavilon Group, was appointed acting CEO in January after long-serving […] Read more
Beef, eggs, feed fatten Cargill’s profits
Chicago | Reuters — Strong global demand for beef and animal feed fattened grain trader Cargill’s profits in fiscal year 2018, which were also boosted by trade tensions and South American weather woes, the company said on Thursday. For the full year, adjusted operating earnings reached $3.2 billion, up six per cent from fiscal 2017 […] Read more
ADM reported making takeover approach to Bunge
Reuters — Top U.S. grains merchant Archer Daniels Midland has proposed a takeover of Bunge Ltd., the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with London-based rival Glencore. Large grain traders which make money by buying, selling, storing, shipping and trading crops have struggled in recent […] Read more
Strong beef demand lifts Cargill profit for quarter
Chicago | Reuters — Global commodities trader Cargill reported a 14 per cent rise in quarterly profit on Wednesday as strong beef demand and ample supplies of cattle lifted earnings for its animal nutrition and protein segment for a fifth straight quarter. The gains in protein offset a weaker year-on-year result for Cargill’s origination and […] Read more
Bunge leaves door open to selling itself
Reuters — Bunge Ltd. kept the door open on Wednesday to a sale of the company as it reported a 34 per cent drop in quarterly earnings and cut its full-year outlook, but its chief executive officer predicted a grains market rebound that would reverse the slide. CEO Soren Schroder said planned cost cuts should […] Read more
Cargill profit jumps on beef demand, grain margins
Reuters — Global commodities trader Cargill reported a sharply higher quarterly net profit on Tuesday, helped by rising beef demand and stronger grain trading and processing margins. The privately held company’s net income rose 66 per cent to $852 million in the first quarter ended Aug. 31 from $512 million a year earlier (all figures […] Read more
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