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Markets, News

Beyond Meat shares fall on lower-than-expected revenue forecasts

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Reuters – Beyond Meat forecast annual revenue below estimates February 24, as the plant-based business pioneer wrestles with labour and supply chain disruptions and faces stiff competition in the United States. The plant-based meat space has become crowded in recent years with more traditional names, including Tyson Foods and Kellogg entering the fray and offering
Shannon Hayes farms with her family in New York state and is the author of Redefining Rich and six other books.
Farmit Manitoba, News

Direct-market farmers on diversifying without sapping the joy from farming

Beat burnout by making decisions based on the quality of life you want, says author, farmer and chef, Shannon Hayes

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How do you know when you’ve over-diversified the farm? The question came up during the Direct Marketing Conference, held virtually February 3-5 during a panel on diversification led by three farming women. Lourdes Still farms flowers she turns into dye for lavish wearable art and experiential tourism. Anna Hunter raises sheep, mills wool, and teaches
News

General Mills misses quarterly profit estimates

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General Mills Inc. missed Wall Street estimates for quarterly profit Dec. 21, as the Cheerios cereal maker grappled with soaring prices of raw materials and higher costs of freight and labour. Shares of the Minneapolis, Minnesota-based company were down about four per cent in pre-market trade. Prolonged supply chain disruptions and a shortage of truck
News

France’s InVivo aims to become top world malt producer

Company aims to double size of malt business with help of new investors

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Reuters – InVivo aims to become the world’s largest producer of malt within five years, supported by new investors after it completed the acquisition of agribusiness peer Soufflet, its chief executive said Dec. 9. The takeover, which values Soufflet at 2.2 billion euros (US$2.5 billion), will give rise to a group with nearly 10 billion euros in sales from
A Canadian Agricultural Human Resource Council report indicated that over 40 per cent of farms were understaffed in 2020.
Comment, Op/Ed, Other

Comment: Solving the ag-labour crunch

The agriculture sector will need a united effort to address this issue

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The availability of labour is a critical factor in determining the long-term growth and profitability of Canadian agriculture. The ongoing viability of many farm businesses will be determined by labour. Farms, rural communities, value-added processing, and key support sectors like transportation, are all struggling to find and keep staff. This is not a new story,
News

Brazil’s BRF sees holiday food sales back to pre-pandemic level

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Reuters – Brazilian pork and poultry processor BRF SA expects food sales to return to pre-pandemic levels during the holiday season as consumers and families gather again after almost two years of social distancing. In an interview with Reuters Dec. 1, Sidney Manzaro, who leads the company’s Brazilian operation, said he does not expect the
Buffalo Creek Mills’ new oat kiln is lowered into position in September. Installation is underway and set to finish in January.
News

Altona oat processor expanding with innovative tech

Buffalo Creek Mills hopes to branch products further into plant-based beverage and foods markets

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Altona oat processor Buffalo Creek Mills is expanding its capacity and technology to make inroads into emerging oat markets such as dairy alternatives. The expansion will also add nearly 20 jobs at the facility said CEO Ryan Penner, and it will increase the plant’s capacity to 54,000 metric tons per year. Ryan Penner and Buffalo
A jump in price for corn, soybean and other crops has brightened the financial outlook for farmers...
News, Other

Corteva raises sales view again as seed, insecticide demand booms

As farmers fear supply chain woes, they’re buying earlier than usual

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Reuters – Corteva raised its 2021 sales forecast for a second time this year Nov. 3, and posted a smaller-than-expected quarterly loss, benefiting from higher prices and strong demand for its insecticides and seeds. A jump in price for corn, soybean and other crops has brightened the financial outlook for farmers who have started pre-buying
Comment, Op/Ed

Comment: Running with the big Deere

Labour unrest and record profits underscore importance of equipment maker

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In an effort to maintain its enviable, 34-year run of labour peace, Deere & Co. and the United Auto Workers recently announced a deal to boost worker pay — by 20 per cent over five and six years, Deere said — to keep the iconic green-and-yellow machines rolling off its 11 assembly lines and through
Photo: iStock/Getty Images
Markets

Bunge raises 2021 profit outlook on higher food, renewable fuel demand

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Bunge Ltd reported stronger-than-expected third-quarter results and raised its full-year profit outlook on Wednesday for a third time this year amid improved demand for food and renewable fuel as pandemic restrictions have eased. Although volumes in the U.S. agricultural commodities trader’s core agribusiness and its refined and specialty oils units were down, robust oilseed processing

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