Excerpts from the Journal of Commerce:
Steenhoek could think of a few factors contributing to improved rail service.
In the first place, he said, 2014 saw a longer harvest, giving [...]
Japanese trading house Marubeni Corp halved its annual profit forecast on Monday after plunging oil, copper and coal prices weighed on its resource assets and it booked an impairment charge for its grains unit Gavilon.
Like international oil majors and mining companies, Japan’s trading companies have been caught flat-footed by the rout in commodities, with [...]
Agricultural trading giant Louis Dreyfus Commodities BV said it has appointed former Viterra CEO Mayo Schmidt as chief executive officer, ending a year-and-a-half-long search.
The choice of Mr. Schmidt, an outsider who spent most of his career in the U.S. and Canada, signifies a change for the closely held family company, which has traditionally promoted [...]
A canola-crushing plant owned by the Canadian unit of global grain trader Louis Dreyfus Corp will be offline indefinitely after an explosion and fire on Friday, the company said.
Firefighters are investigating the cause of the blast at the Yorkton, Saskatchewan, plant, and an assessment of the structural condition of [...]
Greg Heckman, president and CEO of Gavilon Group, LLC, announced Friday his decision to leave Gavilon after a 30-year career with the company. Chief Operating Officer Jim Anderson has been named president and chief executive officer, effective immediately.
After the company was formed in 2008 from the sale of ConAgra Trade Group, Heckman devoted the [...]
Excerpts from Farm Futures:
Farmers in Kansas, the largest wheat producer, are breathing easier now that late summer rain put needed moisture in their winter wheat fields. Rain also fell on Oklahoma and Texas wheat fields.
At a time when farmers and grain merchants are worried about the ability of railroads to move grain, USDA [...]
From an Archer Daniels Midland – Marubeni news release:
Archer Daniels Midland Company and Marubeni Corporation announced today that they have expanded Kalama Export Company LLC, their joint venture in the U.S. Pacific Northwest, as a result of Marubeni’s contribution of its grain export elevator operations at Terminal 5 in The Port of Portland, Oregon, [...]
Excerpts from the Wall Street Journal:
Agricultural trading firm Louis Dreyfus Commodities BV on Monday reported a slight increase in earnings in the first half of 2014 as revenue rose 16% after large grain harvests.
Net income rose to $260 million from $258 million, as revenue jumped to $33.7 billion from $29.2 billion. The Netherlands-based [...]
Gavilon Grain announced it has acquired a 981,000-bushel grain facility in Silica, Kansas. The Silica facility primarily handles wheat, corn, milo and soybeans, with 60-car shipping capabilities on the Kansas-Oklahoma railroad.
The Silica facility is Gavilon’s third grain elevator in Kansas, located 100 miles southwest of its shuttle facility in Abilene and 100 miles northwest [...]
Central Ohio Farmers Cooperative is purchasing the Bunge North America facility at Jefferson and Mark streets for $3.7 million, the cooperative’s CEO said Wednesday.
Tom Bostic, the cooperative’s CEO and president said the cooperative is hiring all approximately 11 employees who currently work at the Bunge grain elevator, including the manager, who will be a [...]
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