LOS ANGELES, California (Reuters) — U.S. shoppers can easily track Amazon packages to their front door, but big railroad customers can’t see the real-time location of shipments of BMW luxury cars, fuel or fertilizer as they crisscross the country. A U.S. coalition of railroad executives and their customers are working to change that. The project, […] Read more
Tag Archives Bunge
Bunge beats profit estimates
CHICAGO, Ill. (Reuters) — Bunge Global SA recently beat Wall Street estimates with a record fourth-quarter adjusted profit as strong oilseed processing results boosted its core agribusiness division. However, the company forecast a drop in adjusted profit in the year ahead due to narrowing crush margins. The fourth-quarter earnings results come as Bunge works to […] Read more
Bunge seeks antitrust approval for Viterra deal
MINNEAPOLIS, Minn. (Reuters) — Bunge has filed for regulatory approvals for its merger with crop handler Viterra in “major jurisdictions” in North and South America, Europe and China, and has gotten the green light from some of its smaller markets including Colombia, chief executive officer Greg Heckman said Nov. 2. The merger, which would create […] Read more
Bunge lifts 2023 outlook on vegoil success
CHICAGO, Ill. (Reuters) — Global crop trader and processor Bunge lifted its 2023 outlook on Oct 26 after its third-quarter profit topped Wall Street expectations, though earnings were lower year-on-year. Solid crushing results in Brazil, Asia and North America, and strong vegetable oil demand helped the world’s largest oilseed processor offset weaker results in Argentina, […] Read more
Transport Canada to review Bunge-Viterra port impacts
Federal ministry’s study expected to focus on how Bunge’s proposed acquisition of Viterra would affect grain shippers
Transport Canada is reviewing the proposed acquisition of Viterra by Bunge in addition to a simultaneous review being conducted by the Competition Bureau. “In order to ensure that we have fair competition at Canada’s ports, the Government of Canada is launching a review of the proposed acquisition of grain handler Viterra Limited by Bunge Limited, […] Read more
Bunge earnings outlook up after strong quarter
(Reuters) — Bunge Ltd. has raised its full-year earnings outlook after improved processing margins helped the agri-trader post a second-quarter profit above Wall Street estimates. Bunge forecast full-year adjusted profit to be at least US$11.75 per share on an improving margin outlook, up from guidance of $11 a share previously and above the average analyst […] Read more
Feds should step up and buy Viterra
Just four companies known as the ABCD group control 90 percent of the world grain trade, and the B in this group is about to get much bigger. B is for Bunge, which has announced it is buying Viterra. The other ABCD companies are Archer Daniels Midland, Cargill and Louis Dreyfus. Viterra, a subsidiary of […] Read more
Bunge-Viterra deal needs appropriate bureau scrutiny
It is tempting to see Bunge’s recent acquisition of Viterra as the end of the farmer-owned grain co-operative era, but that era ended a long time ago. Saskatchewan Wheat Pool’s conversion from farmer-owned co-operative to publicly traded company in 1996 was the first step in that direction. The pool’s 2007 acquisition of Agricore United, itself […] Read more
Viterra-Bunge deal not a surprise for industry watchers
Former chief executive officer of UGG and Agricore United says consolidation is a decades-old trend in the grain industry
The merger of Viterra and Bunge is another step in a consolidation process that began decades ago, says a former grain industry executive. It began in 1998 when Alberta Wheat Pool and Manitoba Pool Elevators merged to form Agricore Cooperative Limited. That entity did not last long. In 2001, the struggling Agricore Cooperative merged with […] Read more
Viterra-Bunge deal not a surprise for industry watchers
Viterra and Bunge are merging operations in a deal where Viterra shareholders are receiving $6.2 billion worth of Bunge shares and $2 billion of cash.
