Reading Time: 2 minutes Grain trader Archer-Daniels-Midland said on Monday that Chief Financial Officer Vikram Luthar will resign from his role effective Sept. 30.
ADM CFO to resign as company faces US government investigation
JBS says US beef division facing challenges, Seara unit improving
Low cattle supply behind weakness in US division; headwinds expected to continue
Reading Time: 2 minutes Brazilian meat-packer JBS expects margins of its Seara processed foods maker in Brazil to reach double digits in the first weeks of 2024, citing operational improvements designed to shore up the unit, executives said today.
Brazil’s soybean harvest kicks off with low yields in Mato Grosso
Crops suffered from lack of humidity; now rains are hampering harvest in some areas
Reading Time: 2 minutes Brazilian soybean farmers have begun to reap their 2023/24 soybean crop, covering some 0.6 per cent of the national planted area as of last Thursday, agribusiness consultancy AgRural said on Monday.
Brazilian farmers slow fertilizer buys as drought dampens corn-planting plans
Fertilizer companies are already dealing with lower profits as prices sag
Reading Time: 3 minutes Brazil's drought is causing farmers there to delay fertilizer purchases for their upcoming corn-planting season, denting sales for global fertilizer suppliers in the world's top corn-exporting country, executives told Reuters.
Brazilian state launches mandatory tracking of cattle to stop deforestation
The state government plans to track all 24 million cattle in the Para region by the end of 2026
Reading Time: 2 minutes Sao Paulo | Reuters — Brazil’s Para state, which leads the country for the highest levels of Amazon rainforest destruction, will launch a mandatory program to track cattle in a bid to crack down on related deforestation, a partner in the project said on Friday. Cattle pasture is the most common initial use for deforested […] Read more
Third-quarter profit plunges for JBS
Low U.S. pork prices, beef margins and global chicken glut cited
Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s biggest meatpacker, reported an 86 per cent drop in third-quarter net income compared to a year ago on Monday, sliding to around 573 million reais (C$166.3 million). Net income was under the LSEG consensus forecast of 724 million reais, and far below the whopping four billion-real […] Read more
Brazil’s JBS reboots plan to list shares in New York
International meat packer hopes for access to lower-cost capital
Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s largest meat packer, on Wednesday proposed listing its shares in New York, hoping the move will bring its multiples closer to peers and that a broader investor base will give it more access to cheaper capital, sending its shares up eight per cent in mid-morning trade. […] Read more
Global chicken meat oversupply improving, Brazil’s BRF says
Lower grain costs also expected to boost margins
Reading Time: < 1 minute Sao Paulo | Reuters — Chicken prices are rising as companies start to cut production to reduce global oversupply, Fabio Mariano, CFO of BRF SA, said on Tuesday, after a glut helped to push the Brazilian pork and poultry producer to a first-quarter loss. The firm posted a 1.024 billion-real (C$287.7 million) net loss for […] Read more
China agrees to resume imports of Brazilian beef
Beijing authorizes four new Brazilian plants
Reading Time: 2 minutes Beijing/Sao Paulo | Reuters –– Efforts by the Brazilian government to lift a month-long ban on beef exports to China paid off on Thursday, as Beijing agreed to resume imports while also approving four new beef packers based in Brazil, according to authorities in both countries. China’s General Administration of Customs approved the resumption of […] Read more
Several countries ban Brazilian beef as BSE probe goes on
Russia among those halting imports
Reading Time: 2 minutes Sao Paulo | Reuters — The Brazilian agriculture ministry said on Thursday that Thailand, Iran and Jordan have temporarily suspended imports of beef from Brazil while authorities investigate a case of BSE in an animal from Para state, according to a statement sent to Reuters. The ministry also confirmed that Russia has halted imports from […] Read more
A message from April Stewart, Country Guide's Associate Editor
