Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Want to know where your meat was raised? WTO case pressures Congress to stop labeling

An article titled ‘U.S. loses meat labeling case; trade war looms’ shows one of the many ways free trade agreements hurt consumers and farmers:

Consumer group Public Citizen pointed to a 2014 survey showing nine in 10 Americans supported the labeling rules.

Canada and Mexico are readying trade sanctions against the United States after [...]

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Executives at Japanese trading firm take big pay cuts, criticize Gavilon

Executives at a large Japanese trading company plan to take major pay cuts this year that are attributable in part to what has happened 6,000 miles away in Omaha.

Marubeni Corp., based in Tokyo, last week reported 2014 annual profit that fell by 50 percent, on worse results from oil and grain trading. Part of [...]

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Low freight rates and other factors lead to grain vessel backups

Excerpts from an article in the Western Producer titled ‘Ocean vessels again backed up at Pacific port’:

According to figures published by Canada’s Grain Monitoring Program (GMP), the number of ocean vessels waiting to be loaded with grain at the Port of Vancouver in late April stood at 24.

That’s at least double the historical [...]

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Brazil govt takes aim at US farm subsidies

After finally turning the page on a dispute over spying that hampered attempts to deepen trade ties, Brazil and the US may be headed for another clash, this time over US farm subsidies.

Brasilia is gathering evidence to show that the US is increasing subsidies for soy and corn farmers, which threatens to further push [...]

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Bunge logs $373 million profit with help from U.S. soybeans

With a boost from soybean trading and exports, Bunge Ltd. reported a first-quarter profit of $373 million, up nearly $300 million from the same period last year.

Bunge CEO Soren Schroder said the company’s North American agribusiness operations, along with those of Brazil and Europe, performed well, which he expects to continue.

“Farmers in the [...]

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Bunge logs $373 million profit with help from U.S. soybeans

With a boost from soybean trading and exports, Bunge Ltd. reported a first-quarter profit of $373 million, up nearly $300 million from the same period last year.

That came even as the food and agribusiness company, which has its North American headquarters in St. Louis, made net sales that, at $10.8 billion, dropped by about [...]

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Strike paralyzes Argentine grains port for 2nd day

Port of Rosario, Argentina

Excerpts from Marine Link:

Argentina’s grains hub of Rosario was paralyzed on Thursday by the second day of pay strikes by unions representing stevedores and other workers needed to dock and load recently-harvested soy and corn, union and management spokesmen said.

Flash work stoppages are common in Argentina, where workers [...]

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Bunge boss of two years faces pressure to improve results

A $201 million deal for Bunge Ltd to take control of Canadian grain handler CWB is set to shake up wheat sales in Manitoba and Saskatchewan but may not help the head of the agribusiness firm in his drive to boost profits.

The transaction was announced on Wednesday as Bunge Chief Executive Soren Schroder, 53, [...]

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Marubeni Australia confirms closure

Japanese trading house Marubeni has decided to close its Australian grain business.

In a letter obtained by Fairfax Media, Marubeni Australia managing director Makoto Kajitani confirmed the company was closing its grain business in Australia. He said this was due to the company’s global grain strategy and not a result of any performance issues.

“The [...]

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Oregon farm groups support trade pacts as opponents ratchet up pressure on Ron Wyden

Eleven of Oregon’s major agricultural organizations on Monday urged the state’s congressional delegation to support the fast-track trade bill as well as the pending Trans-Pacific Partnership.

The push by the agricultural groups comes as the Oregon AFL-CIO is ratcheting up its campaign to to persuade Sen. Ron Wyden, D-Ore., to oppose a fast-track trade bill.

[...]

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Louis Dreyfus Commodities has no plans for an IPO, majority owner says

Privately held agricultural commodities trader Louis Dreyfus Commodities has no plans for an initial public offering (IPO), according to its largest stakeholder. Instead, Margarita Louis Dreyfus, whose family lends its name to the company, intends to increase her stake to 80% after the trading house posted a modest uptick in corporate fortunes.

Net profit for [...]

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Louis Dreyfus working on fresh strategy, as profits stabilise

Louis Dreyfus Commodities revealed it was working on a “renewed strategy” to align it to “tomorrow’s sources of growth” in agricultural commodities as the trading giant unveiled a stabilisation in profits, after the heavy fall of 2013.

Louis Dreyfus Commodities – which with Archer Daniels Midland, Bunge and Cargill is one of the “ABCD” of [...]

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Marubeni grain giant fined $800,000 by CFTC

The U.S. Commodity Futures Trading Commission issued an order filing and simultaneously settling charges against Marubeni America Corp., a dealer and merchant of agricultural commodities and the largest overseas subsidiary of the Japanese company Marubeni Corporation, for failing to comply with its obligation to submit accurate monthly reports regarding the composition of Marubeni’s fixed-price cash [...]

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Saskatchewan sees slim 2015-16 surplus, hikes potash taxes

The Western Canadian province of Saskatchewan expects to post a slim budget surplus in the 2015-16 fiscal year, helped by changes in how it taxes potash mining companies, the government said on Wednesday.

The province is home to mines owned by Potash Corporation of Saskatchewan, Mosaic Co and Agrium Inc . Germany’s K+S AG and [...]

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More U.S. grain elevators accept GMO Syngenta corn banned by China

The number of U.S. grain elevators, mills and feedlots that will buy a type of biotech corn banned by China has more than doubled since July, indicating growing domestic acceptance for a product seen as a potential risk to international trade.

The announcement, coming just before the start of the planting season, is aimed at [...]

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