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.

Glencore takeover of Bunge ‘could be possible this year’

From Agrimoney:

A takeover by Glencore of US-based ag giant Bunge “could be possible this year”, Credit Suisse said, cutting its scepticism on a deal after the commodities group unveiled some wriggle room in its financial guidance.

Credit Suisse analysts – who last month flagged a “diminished risk” of Glencore succeeding in the takeover, after […]

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Appeals court clears Viterra in 2011 death of grain-terminal worker

From CBC/Radio-Canada:

Saskatchewan’s highest court has dismissed an appeal against a Regina-based agribusiness accused of negligence in the death of a worker in 2011.

Federal Crown prosecutors had charged Viterra — which has since been purchased by Glencore — with six violations of the Canada Labour Code.

On Sept. 8, 2011, a man working at […]

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Bunge share price rallies amid merger talks

From the Western Producer:

Shares of Bunge Ltd rose to a 22 month peak May 24 after merger overtures by Glencore Plc.’s agriculture unit, which owns Viterra in Canada, whetted investors’ appetite for consolidation in the commodities sector.

News that Glencore Agriculture Ltd., jointly owned by Glencore and two Canadian pension funds, approached Bunge sparked […]

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All eyes on ADM and Bunge after Cargill profit jumps 20 pct

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 […]

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Louis Dreyfus H1 profit halved by commodities downturn

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 […]

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Louis Dreyfus Chooses a CEO

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 […]

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Domestic factors key in China’s shipping rejection of P3 Network

From the Financial Times:

By holing AP Møller-Maersk’s plans for a grand European shipping alliance below the waterline, the Chinese government has sent a powerful message that it will not hesitate to block deals deemed detrimental to corporate and consumer interests in the world’s second-largest economy.

“If anyone was going to stop it, it […]

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Viterra increasing capacity at grain terminal at Port Metro Vancouver

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 […]

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Canada grain handlers to expand as crops overwhelm system

On Wednesday, Canadian National Railway Co Chief Executive Claude Mongeau said the railway would consider expanding its capacity if grain handlers do the same.

Three Canadian grain handlers said this week that they will expand facilities to handle the country’s crops, after a record-smashing harvest overwhelmed the transportation system.

Viterra, owned by Glencore Xstrata PLC, […]

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Cargill monitoring unrest in Ukraine as insurgency intensifies

Cargill Inc. is monitoring the unrest in Ukraine, the world’s third-largest corn exporter, as an antigovernment insurgency intensifies.

Cargill’s grain-export operations haven’t been affected, its Kiev office remains open and no employees have been directly affected by the unrest, spokeswoman Corinne Holtshausen said yesterday in an e-mail. The Minneapolis-based crop trader and processor, the largest […]

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Puerto en norte de Chile retoma operación pese a huelga, otros terminales siguen en paro

[ENGLISH SUMMARY: Ultraport, a private port in northern Chile, one of the centers through which the state copper giant Codelco makes their shipments abroad, gradually resumed operations on Wednesday amid a contractual worker strike, while other terminals in the country remained paralyzed. The company said some of the 160 workers in the conflict had decided […]

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Louis Dreyfus agrees JV to develop Ukraine commods terminal

Trading giant Louis Dreyfus Commodities said on Thursday it has entered a joint venture agreement with Brooklyn Kiev LLC to develop and manage a multi-commodity terminal in Odessa, Ukraine, as it expands in one of the world’s top grain exporters.

While Louis Dreyfus is already active in shipping grains from the Black Sea – a […]

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The big five companies that control the world’s grain trade

The following list is a sidebar of the article below this one. From The Independent:

ADM (Archer Daniels Midland) US-based corporation operating in 75 countries. Runs 265 processing plants converting corn, wheat and cocoa into food and animal feed and for energy.

Bunge Founded in the Netherlands in 1818, now with its headquarters in […]

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Monopoly of grain trade has forced millions into starvation, say charities

Mainstream boy band takes on Big Grain: As part of the campaign to end hunger, popular British band One Direction says that “big corporations [named by the campaign as Archer Daniels Midland, Bunge, Cargill, Glencore and Louis Dreyfus] avoid paying millions in taxes to Africa every day,” and that “if we stop […]

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ADM’s quest for Australia’s GrainCorp heats up grain race

U.S. agriculture giant Archer Daniels Midland raised the stakes in the global race for grains trading power last week, by seeking talks to buy smaller Australian shipper GrainCorp to build up its platform in Asia.

The 10 percent purchase comes at a time of dramatic consolidation in the global grains sector amid intense competition to […]

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