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Tag Archives Cargill

(File photo by Dave Bedard)
Crops, Markets

Cargill expects grain glut to last long time

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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)
Crops

ADM sees weaker ag services outlook on trading woes

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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)
Crops

Bunge profit dives as grain glut hits margins

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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, Opinion

Editorial: Market realities

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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)
Livestock

Cargill’s Q3 profit up on ingredient, protein demand

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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
(File photo by Dave Bedard)
Crops

Macquarie to buy Cargill’s global oil business

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Houston | Reuters — Australian bank Macquarie Group is planning on buying Cargill’s global oil business, according to people familiar with the matter, marking the second energy business the global commodities trader has shed this year. Terms of the deal have been agreed upon, but the integration could take several weeks or longer, one of
(File photo by Dave Bedard)
Beef cattle, Livestock

Ontario backs feed processing at Cargill beef plant

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Ontario’s provincial government plans to put up over half a million dollars for Cargill to process byproducts from its Guelph beef plant for feed. Provincial Agriculture Minister Jeff Leal on Wednesday announced a $582,000 investment toward Cargill’s installation of a “value-added” processing system converting raw byproduct into a “protein-rich animal feed ingredient.” The “leading-edge technological

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