Business Archives - Page 10 of 52 - Manitoba Co-operator

ADM profit more than doubles on strong crush margins, vegoil demand

By Arunima Kumar, GFM Network News, Karl Plume October 26, 2021

Global grain trader Archer-Daniels-Midland Co said on Tuesday its third-quarter profit more than doubled, as strong oilseed crushing margins and rising vegetable oil demand boosted its core agricultural services and oilseeds unit. The Chicago-based U.S. grains merchant is anticipating the favorable demand and margin environment to continue supporting results in the fourth quarter and foresees

Montecitorio, house of italian parliament, Rome. Italy. Photo: masterlu/iStock/Getty Images Plus

Italy vetoes sale of seed producer to Chinese-owned Syngenta

By GFM Network News October 25, 2021

Rome | Reuters – Italy has prevented Chinese-owned group Syngenta from buying vegetable seed producer Verisem, government officials said, underscoring Prime Minister Mario Draghi’s commitment to shield key assets from unwanted foreign bids. The decision, made at a cabinet meeting on Oct. 19 but not yet made public, marks the first time Italy has vetoed

Managing a restaurant after the pandemic will not be easy.

Comment, Op/Ed, Other

Comment: How many restaurants are enough?

Have we seen ‘peak restaurant’ or will the sector survive?

By Sylvain Charlebois October 13, 2021

A question that often comes up is, did we have too many restaurants before the pandemic? Many wonder if the pandemic has only wiped out the restaurants we had “extra” of. With the labour shortage, the cost of food ingredients exploding, and the list of regulations growing almost every year, making a restaurant profitable has

News

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,

Daily Network News

Trump tells farmers that tractor companies should lower prices

Get farmers in on federal water security strategy planning, CFA says

U.S. finalizes biofuel blending quotas for 2026-27, cuts RINS for foreign feedstocks

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