Oct 31 (Reuters) – Archer Daniels Midland Co’s quarterly earnings tumbled 44 percent on severance and restructuring costs and weaker trading profits due to a global grain glut, and the agricultural trader offered a gloomy 2018 forecast, sending its shares dropping as much as 6.7 percent on Tuesday. The company widely missed profit and revenue […] Read more
Ag Finance
ADM profit tumbles, issues gloomy view; shares drop
Louis Dreyfus sees better signs as profits rise
PARIS, Sept 28 (Reuters) – Louis Dreyfus, one of the world’s top grain trading firms, pointed to improved signs for its commodity trading activities as it posted higher first-half profits in the face of a continuation of high staple crops supplies. Along with its peers, Louis Dreyfus has been overhauling its businesses as margins for […] Read more
Deere buying leading edge ag technology company Blue River
Deere & Company has an agreement to buy Blue River Technology, a leader in applying machine learning to agriculture. Deere said it will invest $305 million to fully acquire Blue River Technology, based in Sunnyvale, California. Deere plans to have the 60-person firm remain in Sunnyvale with an objective to continue its rapid growth and […] Read more
Federated Co-op opens two fertilizer terminals
Federated Co-operatives Ltd. has commissioned high-throughput fertilizer terminals in Brandon, Man., and Saskatoon, Sask., that will supply Co-op locations and agricultural producers across the Prairies. The 68,000-square-foot terminal in Brandon has the capacity to house 27,500 tonnes of fertilizer while the Hanley terminal is 96,000 square feet and has the capacity to store 45,000 tonnes […] Read more
Syngenta eyes Bayer assets to bolster seed business
BASEL, June 27 (Reuters) – Switzerland’s Syngenta, the crop protection company acquired by ChemChina, has vowed to bulk up its seed business and join the chase for assets rival Bayer must sell to gain regulatory approval for its takeover of Monsanto. Syngenta, a distant third in the global seed market behind Monsanto and Dupont, is […] Read more
Farmers keen to adopt technology: StatsCan report
June 21 (CNS Canada) – Canadian farmers in most sectors are strong proponents of data-driven technology, according to a report released June 21 by Statistics Canada. The latest release in StatsCan’s 2016 Census of Agriculture showed farmers were particularly keen to jump into new technology if it improved the efficiency of their operations or their […] Read more
Canadian ag sector equity rises 4.5% in 2016: StatsCan
June 21 (CNS Canada) – Agriculture sector equity rose slightly in 2016, according to a Statistics Canada balance sheet on the industry. Farm sector equity totaled $500.3 billion for the year ending Dec. 31. That’s a 4.5 percent increase, or $21.6 billion from the same period a year ago, according to the report released June […] Read more
Top grains traders face tough choice: Partner, merge or wait for bad weather
By Tom Polansek CHICAGO, May 24 (Reuters) – Commodity trader Glencore Plc’s confirmation on Tuesday that it sought a tie up with grains trader Bunge Ltd likely signals the start of a wave of consolidation and partnering in the industry, as middlemen struggle to make profits amid a massive global food glut. Bunge and other […] Read more
FMC gets large cereal and insect assets from DuPont
FMC announced early Friday morning that it would be acquiring DuPont’s cereal herbicides business, as ordered by the European Commission to allow the merger of DuPont and Dow. While that deal will now not close until sometime in August, it helps pave the way for the big merger. FMC said it expects its deal with […] Read more
Government defeats effort to change succession tax
The federal government has defeated a private member’s bill designed to ease the tax burden on small business owners, including farmers. NDP MP Guy Caron had been pushing the Liberals to pass Bill C-274, which would have amended the Income Tax Act so the transfer of a business to a child or grandchild was treated […] Read more
