The United States is about to import the largest wheat cargo from the U.K. in more than two decades as a combination of ample British supply, a weaker pound and rock-bottom freight rates make the unusual trade viable.
It’s unusual for the U.S. to import large quantities of wheat, not least because it’s the third-biggest [...]
Marubeni Corp expects 10 billion yen ($91.96 million) profit from U.S. grain merchant unit Gavilon in the year to March 2017, up from 5.4 billion yen a year earlier, helped by restructuring, its president Fumiya Kokubu said on Tuesday.
“Our assumption prices are lower than the current prices,” he told an earnings news conference, without [...]
Cargo activity at the Port of Longview fell 22 percent last year, dragged down by falling log and grain exports, port officials said this week.
Higher-than-expected expenses dented profits. Administrative costs exceeded projections by 23 percent, according to report from port CFO Peggy Van Horn. That primarily was the result of $375,364 in un-budgeted legal [...]
From Crop Protection News Reports:
The NFU believes the TPP will hurt rural communities more than help them by opening American jobs up to cheaper, foreign labor.. Pictured is National Farmers Union President Roger Johnson.
The U.S. Department of Agriculture is trying to gain support on Capitol Hill for its Trans-Pacific Partnership by telling [...]
Grain ship loading at Port Adelaide in Australia. Prior to Patrick starting its operations at the port, Viterra was the only provider of bulk wheat port terminal services in South Australia.
A draft determination from the Australian Competition and Consumer Commission (ACCC) exempting Patrick Stevedoring’s Berth 29 facility at Port Adelaide, Australia, moves Cargill a [...]
From an article titled ”3 Gavilon executives are out; parent company’s disappointed CEO had promised ‘dramatic measures”’ in the Omaha World-Herald:
The Omaha-based commodities company Gavilon said Friday that its chief executive, chief operating officer and head of its North American grain division are gone and the new CEO will start working for the [...]
The Port of Stockton specializes in bulk shipping. The Central Valley Business Journal reports that there were 245 ship arrivals at the port last year, compared with just 100 during the recession in 2009.
For the second year in a row, the Port of Stockton set a record for ship arrivals in 2015. Overall, [...]
Container volumes through The Northwest Seaport Alliance improved 5.9 percent in November when compared with November 2014, the Northwest Seaport Alliance reported recently.
November marked the ninth consecutive month of growth for the combined effort that joined the Port of Tacoma and the Port of Seattle earlier this year.
Containerized exports improved 10.8 percent through [...]
Members of the founding family of Louis Dreyfus Commodities — one of the world’s largest traders of coffee, sugar and wheat — have asked the Russian-born billionaire who now controls the company to buy out most of their stake.
People familiar with the situation said the family members had informed majority shareholder Margarita Louis-Dreyfus of [...]
With crops like corn to soybeans headed for their longest price slump since at least the 1990s, shrinking profit margins may make owners of North American grain assets more inclined to sell. While premiums remain near a 10-year high, they have declined, and the pace of deals for agricultural operations has accelerated, with the most [...]
The Diplomat holds development at the Port of Oakland as ‘evidence of China’s growing appetite for American agricultural products.’
Excerpts from The Diplomat:
From forks to iPhones to couches, “Made in China” products fill American stores. U.S. ports typically import far more from China than they export, but Oakland stands as a rare exception. [...]
A Tennessee man who defrauded Bunge North America by overpaying for agricultural commodities, was sentenced Thursday to 366 days in federal prison.
From 2009-2013, Coleman Carpenter, of Troy, overpaid farmers, producers and dealers for millions of bushels of corn, soybeans and other commodities, prosecutors have said. He then falsified documents to show that he had [...]
A 20 percent quarterly profit jump for global grains trader Cargill Inc suggests recent disappointing quarterly earnings from rival agribusinesses Archer Daniels Midland Co and Bunge Ltd may be more of a blip than long-term concern, analysts said.
Cargill’s strong results, reported on Wednesday, seem to indicate surprising strength for traders of agricultural commodities, as [...]
Gavilon news release:
Gavilon Grain, LLC has announced that it has launched a new web service, myGavilon, that allows customers to personalize their grain experience. Producers are able to access all of their transactions (i.e., balances, contracts and tickets) as well as weather, cash bid and futures market information all in one place.
The U.S. brokered a historic accord Monday to ease trade in goods and services among a dozen Pacific-rim nations that make up about 40 percent of the world economy.
The Trans-Pacific Partnership, five years in the making, will now be subject to months of scrutiny by lawmakers that could yet derail it. Critics on both [...]