Reading Time: 2 minutes Chicago | Reuters –– Archer Daniels Midland’s proposed takeover of Bunge could signal a change in the company’s strategy on oilseeds, giving the top U.S. grain merchant a much bigger capacity to crush soy just months after ADM’s CEO said the firm would cut spending on the sector. The potential strategic change comes as the […] Read more
ADM approach to Bunge a potential U-turn on oilseed strategy
Arkansas restricts dicamba for 2018
Reading Time: 2 minutes Chicago | Reuters — In a blow to manufacturers Monsanto and BASF, Arkansas state lawmakers voted on Friday to bar sprayings of a controversial weed killer after mid-April to protect farmers from potential crop damage. Arkansas will prohibit the use of herbicides based on dicamba from April 16 to Oct. 31, the strictest state limits […] Read more
ADM reported making takeover approach to Bunge
Reading Time: 3 minutes Reuters — Top U.S. grains merchant Archer Daniels Midland has proposed a takeover of Bunge Ltd., the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with London-based rival Glencore. Large grain traders which make money by buying, selling, storing, shipping and trading crops have struggled in recent […] Read more
Rush on to reverse U.S. tax boon for ag co-ops
Reading Time: 3 minutes Chicago | Reuters — Republican U.S. senators are working with some of the world’s biggest agricultural merchants to undo a last-minute provision in the tax overhaul that threatens to distort the grains market and starve private firms of corn, soy and wheat supplies. It was included during final revisions of the tax bill that passed […] Read more
Major U.S. grain firms fear harm from new tax law
Reading Time: 3 minutes Chicago | Reuters — The new U.S. tax law is poised to drive more control over the nation’s grain supply to farmer-owned co-operatives, provoking concern among ethanol producers and privately run grain handlers that they could be squeezed out of the competition to buy crops. Until now, the co-operatives, private companies and publicly traded firms […] Read more
CME Group expands private trades in grain markets, raising worries
Reading Time: 2 minutes Chicago | Reuters – Exchange operator CME Group Inc will allow a type of privately negotiated transaction in all its agricultural markets for the first time on Monday, splitting traders who predict the move will either improve or hurt transparency. CME Group, which owns the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange, […] Read more
Monsanto profit misses estimates as farmers face squeeze
Reading Time: 2 minutes Reuters – Monsanto Co reported weaker-than-expected quarterly earnings on Thursday and said low crop prices hurting farmers’ incomes would limit the company’s ability to profit from sales of its genetically engineered seeds and agricultural chemicals. The outlook makes the world’s biggest seed company the latest agribusiness to detail ongoing pressures from large crop inventories that […] Read more
Cargill profit falls as grain glut limits trading
Reading Time: 2 minutes Chicago | Reuters – Cargill Inc reported a 6 percent drop in quarterly profits on Wednesday as a global glut of grains limited trading opportunities for the food-commodities merchant. Four years of bumper grain and oilseeds harvests have squeezed profits for Cargill and main rivals Archer Daniels Midland Co, Bunge Ltd and Louis Dreyfus Corp […] Read more
Wendy’s to reduce antibiotic use in beef supply
Reading Time: 2 minutes Chicago | Reuters — Hamburger chain Wendy’s Co. laid out plans on Friday to trim the use of antibiotics that are important to human medicine from its beef supply, the latest step by a food company to fight concerns about resistance to the drugs in people. Starting in 2018, the company will buy about 15 […] Read more
Minnesota joins U.S. states limiting dicamba
Reading Time: 2 minutes Chicago | Reuters — Minnesota became the latest U.S. state on Tuesday to restrict controversial weed killers made by Monsanto and BASF that were linked to widespread crop damage, while Arkansas took a step back from imposing new limits. The U.S. has faced an agricultural crisis this year caused by new versions of the herbicides, […] Read more