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Cargill considering bid for JBS’ Pilgrim’s Pride

Sao Paulo / Reuters – Global commodities trader Cargill Inc is considering bidding for Pilgrim’s Pride Corp, a U.S.-based chicken processor controlled by scandal-ridden Brazilian group JBS SA, newspaper O Estado de S. Paulo reported on Wednesday. A JBS representative said Pilgrim’s Pride is not for sale. An emailed request for comments from Cargill went

(JBSs.infoinvest.com.br)

Abu Dhabi fund not eyeing bid for JBS, source says

Abu Dhabi/Sao Paulo | Reuters — Shares of JBS SA erased gains on Friday after a source denied that Abu Dhabi sovereign wealth fund Mubadala Development Co. PJSC was arranging partners to make a bid for control of the world’s largest meatpacker. A person with direct knowledge of Mubadala’s strategy told Reuters that, despite a



(File photo by Dave Bedard)

Cargill expects grain glut to last long time

Seoul | Reuters –– Commodity firm Cargill expects international grain markets to remain oversupplied for a long time due to bountiful harvests and a rise in storage, the head of the global commodity trader said on Friday. Bumper crops have flooded many markets, dragging on prices for grains and hitting profits at agribusiness giants including


(ADM.com)

ADM sees weaker ag services outlook on trading woes

Chicago | Reuters — U.S. agricultural trader Archer Daniels Midland (ADM) on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several key

(Dave Bedard photo)

Bunge profit dives as grain glut hits margins

Chicago | Reuters –– U.S. agricultural trader Bunge reported on Wednesday a sharply lower first-quarter profit and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, N.Y.-based Bunge said net income available to shareholders plunged 82 per cent





Editorial: Market realities

Over the years people have done some pretty goofy things to make money. Probably the best example is Gary Dahl, the inventor of the hare-brained scheme that was the pet rock. The story goes he was sitting in a bar in Los Angeles with friends in the early 1970s, listening to them complain about their

(File photo by Dave Bedard)

Cargill’s Q3 profit up on ingredient, protein demand

Chicago | Reuters — Global commodities trader Cargill reported a higher quarterly profit on Wednesday as strong earnings from its food ingredients and protein units more than offset lagging results from South American grain trading and processing. The privately held company has been streamlining its operations to focus on higher-margin businesses such as food ingredients