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Canola

(Dave Bedard photo)
Crops, Reuters

Bayer waiting for Monsanto to engage after spurned bid

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Reading Time: 2 minutes Reuters — Monsanto, the world’s largest seed company, has still not opened its books more than two weeks after it rejected Bayer AG’s US$62 billion acquisition offer but left the door open to a possible deal, according to people familiar with the matter. The impasse shows that little progress in negotiations has been made since […] Read more
Winnipeg has long been a centre of the Prairie grain trade, having hosted the headquarters of past and present grain handlers and traders and the Winnipeg Commodity Exchange (now ICE Futures Canada). (Canadian Wheat Board photo)
Crops, Markets, Reuters

China’s COFCO Agri hiring grain traders, opening Winnipeg office

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Reading Time: < 1 minute Winnipeg | Reuters –– Chinese state-owned agricultural trader COFCO Agri is opening a trading office in the Canadian grain hub of Winnipeg, adding to the aggressive expansion of its North American agriculture business. COFCO Agri is hiring three grain traders and an operations manager to expand export and domestic trading, according to the company’s postings […] Read more
(Dave Bedard photo)
Crops

B.C. pension funds to get piece of Glencore ag unit

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Reading Time: 2 minutes The investment firm for British Columbia’s public-sector pension funds is set to buy just under 10 per cent of the agricultural arm of commodities firm Glencore. Swiss-based Glencore announced Thursday it has a “definitive” deal to sell 9.99 per cent of its “Glencore Agri” business for US$624.9 million cash to the B.C. Investment Management Corp. […] Read more
Luc Jobin. (CN.ca)
Crops, Machinery

CN promotes CFO as CEO resigns

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Reading Time: < 1 minute Canadian National Railway’s (CN) chief financial officer Luc Jobin will become its chief executive on July 1, as incumbent CEO Claude Mongeau steps down for health reasons. Mongeau announced Tuesday he will resign as CN’s CEO at the end of June, after leading the railway company for six and a half years. “I was filled […] Read more
(Dave Bedard photo)
Crops, Reuters

EU countries refuse to back new licence for glyphosate

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Reading Time: 3 minutes Brussels | Reuters — EU nations refused to back a limited extension of the herbicide glyphosate’s use on Monday, threatening withdrawal of Monsanto’s Roundup and other weed-killers from shelves if no decision is reached by the end of the month. Contradictory findings on carcinogenic risks have thrust the chemical into the centre of a dispute […] Read more
(Scott Bauer photo courtesy ARS/USDA)
Crops, Markets, Soybeans

Market analysts watch for surging soybeans to peak

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Reading Time: 2 minutes CNS Canada — As soybeans climb the charts and help float other commodities such as canola, one market watcher says the prime selling opportunity for farmers could pass soon, as bearish factors come into play. The president of Calgary-based ProMarket Communications, Errol Anderson, said large funds are the main force that has lifted Chicago soybeans […] Read more
(Dave Bedard photo)
Crops, Reuters

Germany to abstain in EU glyphosate vote next week

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Reading Time: < 1 minute Berlin | Reuters — Germany will abstain in a European Union vote next week on the continued use of glyphosate in herbicides, because ministries run by different parties remain at odds over the chemical which some experts say could be carcinogenic. Contradictory findings on the carcinogenic risks of glyphosate have thrust the chemical into the […] Read more
(Bayer.com)
Crops, Reuters

Bayer secures loan facility to fund Monsanto bid

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Reading Time: < 1 minute Reuters — German drugs and crop chemicals group Bayer, which has made a US$62 billion bid for U.S. seeds company Monsanto, has secured a 60 billion-euro (C$87.75 billion, or US$66.9 billion) loan facility, business journal Handelsblatt reported Thursday. The loan facility can be expanded up to 75 billion euros (C$109.68 billion, or US$83.62 billion), the German […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

ICE weekly outlook: Canola prices winding down

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Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola markets were mixed in the week ended Wednesday, and as grower interest in selling ramps up, prices are likely to edge down. “Canola has been pushed up to some moderately high levels, and it’s been justified in being up there,” said Ken Ball of PI Financial Corp. “But […] Read more

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