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 [...]
Weaker commodity markets led to a halving of first-half profit at Louis Dreyfus Commodities B.V. , but the global trading group said its growing volumes showed food could withstand economic pressures better than other raw materials.
Louis Dreyfus, like traditional rivals Archer Daniels Midland, Bunge and Cargill that dominate trading in agricultural commodities, has been [...]
”We are adamantly opposed to coal. We’re not against the terminal; we welcome the terminal. We’re just opposed to coal.” — Derrick Muhammad, ILWU Local 10 Business Agent, testifying against coal exports on September 21, 2015.
A lengthy public hearing in Oakland Monday afternoon and evening sought to parse out the benefits or drawbacks [...]
ILWU Local 10 Business Agent Derrick Muhammad speaks out against coal for health and economic reasons — and others were exploited to show ‘support’ in exchange for a free T-shirt and meal — in this news clip from KPIX titled ‘Oakland Residents Weigh In On Proposed Coal Train Terminal’:
Hundreds gathered in Monday night [...]
”Waterfront space is in short supply on the West Coast, and it would be a mistake to lock Oakland into a decades-long lease with a coal industry that many say is dying,” said ILWU Local 34 President Sean Farley.
Excerpts from World Maritime News:
Unionized longshore workers and marine clerks at the Ports of [...]
From the Contra Costa Times:
Longshore workers at the Port of Oakland are opposing a developer’s plan to ship coal to Asia through a new terminal at the old Army Base.
Members of International Longshore and Warehouse Union Local 10 and Local 34 voted to oppose the handling of coal at a new bulk maritime [...]
The official voice of the labor movement in the East Bay has come out against plans to export coal from Oakland. This morning, the Alameda Labor Council’s executive committee passed a resolution opposing the export of coal from the bulk commodity terminal planned for construction at the city’s former Army Base.
The resolution cites health [...]
From the Journal of Commerce:
Amid shaky Brazilian business confidence, the country’s agriculture and livestock minister is trumpeting the near completion of dozens of contracts worth nearly $2 billion with importers in 14 countries.
Roughly $800 million of the contracts will be for 190,000 metric tons of beef, equating to about 18,000 twenty-foot equivalent units. [...]
Moinho Pacifico, located in Santos, is one of the largest wheat processors in Brazil. The transaction is subject to regulatory approval, Bunge said in a statement.
Bunge Brazil, a wholly owned subsidiary of Bunge Ltd, said on Aug. 27 it has agreed to acquire Brazilian wheat processor Moinho Pacifico, Reuters reported.
Bunge said the [...]
Port of Kalama News Release:
The Port of Kalama commission voted to award a maintenance dredging contract to the apparent low bidder, HME Construction, for $893,910.00. As part of a routine project to maintain the draft needed for large cargo ships the firm will remove dredged materials in front of the TEMCO Grain Terminal located [...]