Cargill Inc said that its quarterly earnings fell 28 percent, making it one of the largest companies yet to demonstrate how big commodity market disruptions this year have hurt its bottom line.
Minneapolis-based Cargill, a top global commodities trader, was hit by a triple-whammy of unexpected events, including a surge in energy prices in January, [...]
Movement of grain by rail in Western Canada has improved slightly over the last few weeks, according ot the president and CEO of Viterra North America – one of Canada’s largest grain shippers.
“The weather obviously has improved and we’ve seen improvements to West Coast shipments. We’ve also started to position product in Thunder Bay,” [...]
From a Viterra news release:
Viterra, part of Canada’s Agricultural Business Segment of Glencore, has announced that it is executing a series of operational improvements and upgrades at its Pacific Terminal at Port Metro Vancouver.
Some of these projects include the installation of new bulk weighers, upgrades to shipping conveyors and rotary cleaners, and [...]
While most Prince Rupert terminals saw year-over-year increases in March, overall tonnage has dropped by more than 17 per cent in 2014.
In March, 28,145 tonnes were handled at Westview Terminal, which brings the year to date total to 81,277 tonnes.
Combined, port of Prince Rupert tonnage dropped 26 per cent this March, with 1,681,316 [...]
Cargill’s Morris, Manitoba, project will increase rail-car handling capacity from 54 to 100 cars and expand grain storage from 10,000 to 30,000 metric tons. Viterra will upgrade its Pacific Terminal at Port Metro Vancouver in BC.
Within the next month, Cargill Ltd. expects to begin expanding its farm service center in Morris, Manitoba, including increases [...]
Exporters and farmers going in two different directions on GMO corn underscores a new set of challenges faced by international agricultural commodity traders.
Archer-Daniels-Midland Co. and Bunge Ltd., two of the world’s largest grain traders, are facing a new obstacle in their quest to expand corn exports to China — U.S. farmers.
Six months after [...]
Global trading group Louis Dreyfus Commodities B.V. posted a sharp drop in net profit for 2013 after a U.S. drought disrupted grain markets and as sugar and other soft commodities were hit by oversupply.
Net income for the full year fell to $640 million from a record $970 million in 2012, the group said in [...]
Grain cars sit lined up at the Viterra grain terminal off Highway 46 east of Pilot Butte on Monday. The provincial government has made suggestions to Ottawa for its forthcoming legislation to clear Saskatchewan’s grain backlog, including higher fines for non-compliance and pressing more cars into service.
The provincial government has presented its wish list [...]
On March 19, 2014 in Tokyo, the representatives of FESCO, Marubeni Corporation and United Grain Company signed a memorandum on cooperation within the framework of increasing the volume of grain exports from the ports of the Far Eastern Region of the Russian Federation as part of the Russian-Japanese investment forum.
Volumes of grain exports may [...]
Bunge Ltd and Archer Daniels Midland Co, two of the world’s top agricultural trading houses, said recently that political tensions in Ukraine, a major grain exporter, were not affecting operations but that they were monitoring the unrest.
“We have not seen any significant impact to business and continue to monitor the situation,” ADM said in [...]
The dilapidated Berth 4 was once operated by Continental Grain Company until it was shuttered in the 1980s. Attempts to restart the terminal date back to the 1990s, but port officials abandoned those plans when they started pursuing the EGT grain terminal for the new Berth 9 site downriver.
Workers have started demolition work at [...]
Father Jeremy Lucas said he doesn’t hate the people who run United Grain but that he feels sorry and pity for them. ”Hate gets us nowhere,” he said. Lucas also called on the Port of Vancouver and on the city of Vancouver to repent their sins, including the city’s sin of choosing to send [...]
Global grain giant Louis Dreyfus Corp, a Western Canadian canola crusher and grain handler, estimates the region’s canola area at 21.51 million acres in 2014/15, up 7 percent from a year ago.
Based on a return to normal yields, that area should result in a 16.7 million tonne crop, down nearly 9 percent, said Tracy [...]
Two workers were reportedly injured in an explosion at a grain facility just south of Warren, Illinois.
Jo Daviess County Sheriff Kevin Turner said the blast was reported just before 11 a.m. Tuesday. Two Gavilon employees were reportedly treated at the scene by Warren County EMS. The injured workers were a 33-year-old man from Nora, [...]
For the 2014-2015 marketing year beginning Sept. 1, the report projects a seasonal average farm price of just $3.65 per bushel of corn–compared to $4.50 for the current year. In 2015-2016, the price drops further to $3.30 per bushel before beginning a slow but steady climb back up to $4.10-$4.20 per bushel by 2023 [...]