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.

Commodity trader Louis Dreyfus sees better signs as first-half profits rise

From Reuters:

Louis Dreyfus, one of the world’s top grain trading firms, pointed to improved signs for its commodity trading activities as it posted higher first-half profits in the face of a continuation of high staple crops supplies.

Along with its peers, Louis Dreyfus has been overhauling its businesses as margins for buying, selling […]

FacebookEmailShare

Louis Dreyfus trader exodus leaves hole in grain business

From Bloomberg:

A group resignation of Louis Dreyfus Co.’s grain traders, which sparked a crisis forcing top executives to end a trip in Asia and fly back to Geneva, will leave a significant hole in one of its most important businesses.

While the company has quickly moved to replace former global head of grains, David […]

FacebookEmailShare

Report says Louis Dreyfus’ top North America grain trader to retire

From Reuters:

The head of grain trading in North America at commodity giant Louis Dreyfus Co will retire at the end of the month, two sources with direct knowledge of the move said on Thursday.

A global glut of grain supply, low prices and limited volatility have curbed margins for the past two years […]

FacebookEmailShare

Louis Dreyfus family asks to be bought out

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 […]

FacebookEmailShare

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 […]

FacebookEmailShare

Cargill rehires former Louis Dreyfus executive for strategy team

Cargill Inc said on Tuesday a former executive, who recently left rival Louis Dreyfus Corp , will rejoin the U.S.-based commodity trader as one of six people who set corporate strategy.

Gert-Jan van den Akker on Dec. 1 will join the Cargill Leadership Team, which also includes the company’s chief executive officer, chief financial officer […]

FacebookEmailShare

Louis Dreyfus expands in Russia with Azov grain terminal deal

Louis Dreyfus Commodities BV acquired a grain terminal in Russia’s Rostov region as the agricultural commodity trader seeks to increase market share in the country hit by western sanctions over the conflict in Ukraine.

The Don river terminal, with two berths and six silos, will be used for shipping grains on sea-river vessels, Louis Dreyfus […]

FacebookEmailShare

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 […]

FacebookEmailShare

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 […]

FacebookEmailShare

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 […]

FacebookEmailShare

Louis Dreyfus Canadian canola plant offline indefinitely after fire

Louis Dreyfus fire, Yorkton, Saskatchewan

A canola-crushing plant owned by the Canadian unit of global grain trader Louis Dreyfus Corp will be offline indefinitely after an explosion and fire on Friday, the company said.

Firefighters are investigating the cause of the blast at the Yorkton, Saskatchewan, plant, and an assessment of the structural condition of […]

FacebookEmailShare

Louis Dreyfus boosts profit, helped by large harvests

Excerpts from the Wall Street Journal:

Agricultural trading firm Louis Dreyfus Commodities BV on Monday reported a slight increase in earnings in the first half of 2014 as revenue rose 16% after large grain harvests.

Net income rose to $260 million from $258 million, as revenue jumped to $33.7 billion from $29.2 billion. The Netherlands-based […]

FacebookEmailShare

Longshore members ratify contract with grain operators; WA governor welcomes news

Excerpts from the Columbian:

Union workers who handle cargo at grain export terminals in Vancouver and other Northwest ports have voted overwhelmingly to ratify a new collective bargaining agreement with several multinational grain companies, the International Longshore and Warehouse Union said Tuesday. The tally was 88.4 percent in favor, with 1,475 in favor and 193 […]

FacebookEmailShare

Longshore Workers’ Vote Ratifies NW Grain Agreement; Union Workers to Return to Jobs on Wednesday

SAN FRANCISCO, CA (August 26, 2014) – Longshore workers who load grain in Pacific Northwest export terminals have voted to ratify a new collective bargaining agreement with several multinational grain companies. The vote included members of ILWU Local 8 in Portland, Ore., and Local 4 in Vancouver, Local 21 in Longview, Local 19 in Seattle, […]

FacebookEmailShare

Tentative agreement reached in NW grain terminal dispute

From The Columbian:

A bitter two-year labor dispute that engulfed everyone from Vancouver police and Washington’s governor to state and federal agriculture officials may have ended, as the International Longshore and Warehouse Union and Northwest grain terminal operators have reached a tentative contract agreement.

In an email to The Columbian Tuesday, Jennifer Sargent, spokeswoman for […]

FacebookEmailShare