GFM Network News

Bunge sells stake in U.S. ethanol plant

Bunge has ended its 13-year ownership interest in an Iowa ethanol plant, the company said on Jan. 2, following industry struggles with thin margins and overproduction. Southwest Iowa Renewable Energy, or SIRE, repurchased Bunge’s stake in the facility on Dec. 31, according to a statement. U.S. ethanol producers say the industry has suffered from the

ADM to combine grain trading, oilseed businesses

Chicago | Reuters — Global grains trader Archer Daniels Midland said Wednesday it will consolidate five business units into four in the company’s second reorganization in just over a year as adverse weather and a U.S.-China trade dispute threaten profits. ADM will combine its grain trading and oilseeds segments into a new business unit called

ADM says to seek early retirements, may cut jobs

Chicago | Reuters — U.S. grain trader Archer Daniels Midland said on Wednesday it will seek voluntary early retirements by some North American employees and may eliminate individual jobs as part of a restructuring of specific areas. The actions are needed to strengthen ADM’s core business and establish the company as a global leader in

ADM says U.S. floods to cut into Q1 operating profit

Chicago | Reuters — Flooding and severe winter weather in the U.S. Midwest will reduce Archer Daniels Midland’s first-quarter operating profit by US$50 million to $60 million, the U.S. grains trader said on Monday. Record floods have devastated a wide swath of the farm belt across Iowa, Nebraska, South Dakota and several other states. The

ADM earnings double, helped by U.S.-China trade row

Chicago | Reuters – Archer Daniels Midland Co’s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.-China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the New

Dwayne Andreas, the FBI, and me

Dwayne Orville Andreas, the pocket-sized hurricane that built a sleepy soybean processor, Archer Daniels Midland Co., into a global giant, died Wednesday, Nov. 16, in a Decatur, Ill. hospital. He was 98. Andreas’s career was as long and profitable as it was remarkable and jaded. Just last week someone again asked me if it was

Dwayne Andreas founded the ‘Supermarket to the World’

Former ADM chairman used his connections to build the world’s largest grain and oilseed processor

Last week’s passing of former Archer Daniels Midland CEO Dwayne Andreas at age 98 serves to remind of his remarkable success and his influence on the world grain trade, including here in Canada. In 1993, Andreas was in Winnipeg to receive an International Distinguished Entrepreneur Award from the University of Manitoba. A few journalists got

ADM profit jumps on higher U.S. grain exports

Chicago | Reuters — U.S. agricultural products trader Archer Daniels Midland on Tuesday reported a far better-than-expected third-quarter profit as higher U.S. exports of corn and soybeans boosted volumes and margins, sending shares up sharply. U.S. farmers have nearly completed what is expected to be the largest corn and soybean harvests on record, which should