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.

Bunge buys U.S. corn flour mills, following ADM takeover approach

Excerpts from Reuters:

U.S. grain merchant Bunge Ltd bought two corn flour mills to expand its food and ingredients business, the company said on Tuesday.

The move comes after a bid to takeover Bunge by rival Archer Daniels Midland Co. that would consolidate the agribusiness sector.

Bunge’s North American arm, based in St. Louis County, […]

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ADM-Bunge deal would create Cargill-sized agribusiness giant

From the Chicago Tribune:

The world of agricultural-commodity trading could be upended with the merger of two of its biggest names. Archer-Daniels-Midland Co. has sought deal talks with Bunge Ltd., a person briefed on the matter said at the weekend. That’s less than a year after Glencore approached Bunge about a deal.

ADM and Bunge […]

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ADM pursues big ag merger with grain trader Bunge

From Reuters:

Top U.S. grain merchant Archer Daniels Midland Co. has proposed a takeover of Bunge Ltd., according to a person familiar with the approach, which could set up a bidding war with Swiss-based rival Glencore Plc.

Bunge, which rebuffed an acquisition offer from Glencore last year, might not follow up on ADM’s proposal, the […]

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Bunge-Glencore truce ending?

From Reuters:

Shares of Bunge Ltd. rose on news that an agreement that temporarily stopped Glencore from making a hostile bid will expire early next year.

The Wall Street Journal reported on the existence of the agreement and noted it might signal that Glencore is still interested in Bunge but is biding its time.

[…]

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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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