Business Archives - Page 10 of 51 - Manitoba Co-operator

Bunge lifts profit outlook as food and fuel demand for vegetable oil grows

Food and fuel demand for vegetable oil is driving numbers

By Arunima Kumar, Tom Polansek August 11, 2021

U.S. agricultural commodities trader Bunge Ltd. raised its full-year adjusted profit outlook on July 28 after stronger-than-expected food and renewable fuel demand for its vegetable oils drove a 41 per cent jump in quarterly income. Shares jumped three per cent in morning trading after the company projected full-year 2021 adjusted income of at least $8.50

Markets

Corteva launches Brazil biotech soy, tackles Bayer head-on

By Ana Mano, GFM Network News August 10, 2021

Sao Paulo | Reuters – Corteva Agriscience said on Aug. 9 it will start selling biotech soybean seeds in Brazil, as it seeks to bolster its presence in the world’s largest producer of the oilseed and tackle German rival Bayer AG. Corteva said its Enlist soybean seeds can resist three weed killers including glyphosate, ammonium

An aerial view of FCL’s Brandon fertilizer terminal after the $5-million expansion.

News

FCL completes $5M Brandon fertilizer terminal expansion

Upgrades will help ‘debottleneck’ the distribution system in Manitoba and eastern Saskatchewan

By Don Norman August 9, 2021

Just four years after the facility was built, Federated Co-operatives Limited (FCL) has just completed an upgrade to its Brandon fertilizer terminal. The project increases storage capacity by 9,000 tonnes, or more than 30 per cent. Plans for the $5-million upgrade (announced by FCL in a press release late last year) had come as a

Cargill, Continental Grain to buy chicken producer Sanderson Farms for $4.5 bln

By GFM Network News, Praveen Paramasivam August 9, 2021

Reuters – Commodities trader Cargill Inc and agricultural investor Continental Grain Co will buy chicken producer Sanderson Farms Inc for $4.53 billion, the companies said on Monday, at a time when meat prices have been soaring due to strong demand. The deal would see Sanderson Farms, the third-largest poultry producer in the United States, join

Other

Corteva lifts sales forecast on strong demand for crop protection products, seeds

By Arunima Kumar, GFM Network News August 6, 2021

Reuters – Corteva Inc on Thursday raised its net sales forecast for the year after strong demand for crop protection products such as herbicides and insecticides helped the agricultural company beat estimates for the second quarter. Corteva also announced a new $1.5 billion share repurchase program, in addition to a $1 billion buyback announced in 2019,

Markets, Other

Bayer Q2 misses forecasts as costs, forex effects bite

By GFM Network News August 5, 2021

Frankfurt | Reuters – Bayer shares fell to their lowest levels in more than seven months after the German agricultural and pharmaceuticals group reported lower-than-expected second-quarter core earnings due to higher production costs and currency headwinds. Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) before special items fell 10.6 percent to 2.58 billion euros ($3.05 billion),

News, Other

Bayer expects earnings growth on agriculture

New ag products are expected to spur ‘above-market’ growth next year

By Ludwig Burger March 19, 2021

Reuters – Germany’s Bayer on March 10 pledged to revive growth in adjusted earnings by 2024, helped by the launch of products such as digital farming services, soy seeds and non-prescription remedies. The agriculture and pharmaceuticals group said in a statement it was aiming for core earnings per share of between seven and 7.50 euros (C$10.53-$11.28) by 2024,

Roquette was forced to deal with a quickly evolving situation while also managing its construction process at Portage la Prairie.

News, Pulses

Protein companies ponder COVID-19 echoes

How many of the COVID-19 adjustments are likely to stick as the ‘old normal’ slowly reasserts itself?

By Alexis Stockford March 12, 2021

Flip the calendar back to this time last year. It’s the first months of 2020. COVID-19 is just starting to worm its way into the North American consciousness. Most of us have just heard the phrase “social distancing” for the first time. The first COVID-19-related public health orders are being released. Inside food-processing plants and

Roquette initially thought the bulk of its peas for its processing facility would come from Saskatchewan, but so far Manitoba producers have risen to the challenge.

News

Manitoba ‘the Silicon Valley of plant-based protein’

Regulatory burdens are holding back the sector's true potential, one industry leader says

By D.C. Fraser February 23, 2021

The person tasked with opening the world’s largest pea protein facility says Manitoba “can be the Silicon Valley of plant-based proteins” – but regulatory changes are needed. Dominic Baumann, CEO of Roquette Canada, made the bold declaration during a virtual event put on by the Canadian Agri-Food Policy Institute (CAPI) focusing on investment and sustainability

Markets, News

Tyson Foods shares drop as quarterly sales miss estimates

By Praveen Paramasivam, Tom Polansek February 22, 2021

Tyson Foods reported lower-than-expected first-quarter sales on Feb. 11. amid weak meat demand at restaurants during the pandemic. The biggest U.S. meat company by sales expects demand will improve as COVID-19 vaccinations prompt people to eat out more often. So far, though, increased meat sales at grocery stores have not been enough to offset the

Daily Network News

U.S. unlikely to ask to dismantle supply management: trade experts

Feed grains weekly: Large U.S. corn crop to weigh on values

Canada’s public wheat breeding under review

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