Glencore Archives - Page 6 of 9 - Manitoba Co-operator

Traders engage in turf war for Russian terminals

Investments planned to take export capacity from  30 million to 50 million tonnes

By Polina Devitt February 21, 2014

International trade houses are buying into Russian grain port facilities to try to counter high handling costs from one of the world’s top producers of cereals, making smaller players fear they will lose out. Even with erratic harvests in recent years, Russia normally ranks among the top five global wheat exporters. But a lack of

News

Glencore founder dies in Switzerland

By Alice Baghdjian July 5, 2013

Billionaire Marc Rich, who invented oil trading and was pardoned by President Bill Clinton over tax evasion, racketeering and busting sanctions with Iran, died June 26 in Switzerland aged 78. Rich fled the Holocaust with his parents for America to become the most successful and controversial trader of his time and a fugitive from U.S.

Cereals, Crops, Grain Markets, Oilseeds

CWB lowers old-crop PRO in cereals

March 25, 2013

CWB has lowered Pool Return Outlooks (PROs) for wheat in its Harvest and Winter pools, according to an updated report released on March 15. Durum and barley PROs in the Harvest and Winter pools were also lowered, while canola values in both pools were unchanged to higher. Wheat PROs in the Harvest and Winter pools

Cereals, Crops, Opinion

High standards, or regulatory burden?

By John Morriss March 16, 2013

If you are one of those grain farmers who takes great pride in being a free enterpriser, the next sentence may upset you. You are a member of a collective. Perhaps you don’t have a certificate certifying your involvement in such a pinko outfit, but unless you sell all your grain to one customer who

Crops, Grain Markets

Vitol plans grain market debut, hires Viterra traders

By Emma Farge February 28, 2013

Reuters / Top oil trader Vitol is building a global grains desk and has taken advantage of Glencore’s takeover of Canadian grains giant Viterra to hire a team of its traders, trading sources said Feb. 20. Vitol, which has an annual turnover of nearly $300 billion, will vie for market share along with rival trading

Crops, News

Glencore director questions corn-based biofuel

February 15, 2013

dubai / reuters / A director of commodity trading giant Glencore is questioning the conversion of corn into ethanol biofuel, saying it can contribute to higher prices. Critics of using foodstuffs to make fuel say the process can drive up food prices by reducing available supplies, hitting the world’s poorest people hardest. Responding to a

News

Fast exit for head of Glencore North America farm unit

By Rod Nickel January 17, 2013

The head of Glencore International Plc’s recently acquired North American agriculture business is leaving his post just a month into the job, creating a potential complication in integrating the unit. Fran Malecha was Viterra Inc.’s chief operating officer until Glencore completed its acquisition of the Canadian company on Dec. 17 and appointed him director of agricultural products for

Crops, International news, News

Saudi investor ties up with Russian grain dealer

January 17, 2013

moscow / reuters / A Saudi Arabian investment company has set up a joint venture with SAHO, a Siberian grain producer, to ship Russian wheat and barley to the Middle East and North Africa. The deal is a rare one between Russia and Saudi Arabia, which consumes about 15 million tonnes of grain per year.

Crops, News, Oilseeds

Feds say no link in Viterra, Nexen approvals

By Rod Nickel November 30, 2012

Reuters – The Chinese government is treating its role in potential takeovers of two Canadian companies separately, and is not linking them in order to pressure Ottawa to approve a deal between China’s CNOOC Ltd. and Canadian oil producer Nexen Inc., Canada’s agriculture minister said Nov. 13. Approval from China’s Ministry of Commerce (MOFCOM) under

Cereals, Crops, News

Consumers, farmers squeezed as grain giants tighten grip

By Nigel Hunt November 9, 2012

Reuters / A global race for grain trading power is putting more of the world’s vital cereals in the hands of fewer companies, with a string of recent acquisitions raising fears that consumers will pay even more for their food, while farmers are squeezed. Archer Daniels Midland last week bid for Australia’s last independent grain

Daily Network News

U.S. livestock: CME cattle tick lower in thin pre-holiday trade

U.S. grains: Wheat extends gains on short covering, war risk

Prairie forecast: Plenty more chances for snow over Holidays

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