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

Editorial: Scorecard needed

As the Winnipeg Jets mount what promises to be an exciting playoff run, casual hockey fans find themselves at a disadvantage. No doubt more than a few tuned in to the first couple of games last week and were surprised to find a member of the famed Stastny clan had joined the ranks of the

FCWB amends lawsuit, alleges wheat board funds misallocated, farmers shortchanged

Confused by this latest legal action? Here’s an explanation

The Friends of the Canadian Wheat Board (FCWB) allege $720 million owed to farmers in 2011-12 went instead to help the board transition to an open market. “On the face of it, it contravenes the existing legislation,” FCWB chair Stewart Wells said in an interview July 14. According to Wells, the wheat board act says

A terminal at the Port of Vancouver.

Desire for grain price control drives G3 port plans

More port capacity will allow grain companies to widen their margins

G3 has announced it may build a new grain terminal at the West Lynn terminal on the North Shore of Vancouver’s Burrard Inlet. G3 is the joint venture of U.S.-based multinational grain company, Bunge Ltd., and the Saudi Agricultural and Livestock Investment Co. (SALIC), owned by the Saudi government. It was given the assets of

Editorial: Captive grain, and captive farmers?

COFCO likley to create waves for the future of grain pricing

Those who follow livestock markets will know the term “captive cattle” — feedlot cattle owned by the large packers, and which they can use to maintain supply and/or take the pressure off rising open-market prices. In the past that’s led to some U.S. government intervention, such as mandatory reporting of purchases and prices. Recent developments

Sold! CWB’s new elevator at Bloom, Manitoba will be part of the new privatized CWB owned 50.1 per cent by G3, a joint venture firm majority owned by multinational, publicly traded Bunge and state-owned Saudi Agricultural Livestock Investment Company and farmers who can own up to 49.9 per cent earning equity through grain deliveries.

Newly created buyer G3 to take majority ownership of government-owned CWB

Farmers can earn equity in CWB by delivering grain but it won’t be farmer controlled

When the Canadian Wheat Board had a monopoly to market western wheat and barley, grain farmers controlled its operation. But they didn’t own it. Now farmers who deliver grain to CWB can collectively own up to 49.9 per cent through a farmers’ trust, but they will have no control and little input. Control is with

Foreign traders vying for piece of North American grain-handling sector

The urgency to operate in the United States or Canada has grown because of increasing global demand for crops

For decades, the world’s leading grain traders like Cargill and Bunge enjoyed an unparalleled advantage: their smaller North American competitors lacked the flexibility and diversity of a global operation, and their foreign rivals lacked access to the biggest and most stable exporters in the world. That’s about to change. Large U.S. and Canadian grain companies

Briefs March 1, 2012

Kazakhstan expects sharp decline in 2012 grain crop astana/reuters / Kazakhstan expects its grain harvest to revert to an average level of between 13 million and 15 million tonnes this year, a sharp decline from the record post-Soviet crop of 2011, Deputy Agriculture Minister Muslim Umiryayev said Feb. 21. Central Asia’s largest wheat exporter harvested

Agribusiness Giants Can’t Escape Market Volatility

You know commodity trading conditions are tough when even firms that sit on both the buy and sell sides of a market still suffer hefty losses. Such was the case with 140-year-old agribusiness giant Cargill, which recently reported a 66 per cent drop in earnings in the latest quarter over year-ago levels due to global

Syngenta Sues Bunge Over Rejection Of GMO Corn Type

Syngenta Seeds, a unit of the world’s largest agrochemicals company Syngenta AG, has filed suit against major grain handler Bunge for refusing to accept a type of its biotech corn. Syngenta claims Bunge’s North America operations are illegally refusing to handle a type of genetically modified corn that is designed to protect the crop against