Australia rejected the $2.55 billion takeover of GrainCorp by Archer Daniels Midland, bowing to pressure from grain growers.» Read More
BUENOS AIRES, Aug 6- China has approved its first shipment of genetically modified Argentine corn, Buenos Aires said on Tuesday, signaling that the Asian country may eventually import GMO crops from other producers like the United States. U.S. farmers could eventually benefit from China finally opening the door to GMO corn imports.
CHICAGO, Aug 6- Archer Daniels Midland Co, one of the world's top agricultural trading houses, on Tuesday warned that a delayed U.S. corn harvest will prolong the hardship of the drought that devastated crops last year.
CHICAGO, Aug 6- Agribusiness company Archer Daniels Midland Co said on Tuesday that quarterly earnings fell as crop supplies tightened in the United States. Revenue for the quarter was $22.54 billion, below Wall Street's expectations for $22.87 billion. The others are Bunge Ltd, Cargill Inc and Louis Dreyfus Corp..
NEW YORK/ GENEVA/ SAO PAULO, July 31- Brazil's Grupo BTG Pactual SA, Latin America's largest independent investment bank, is making a bold push into the global commodity markets just as other banks bow out, betting it can avoid the regulatory pressure rattling rivals.
At a central Iowa processor owned by Cargill Inc, grain buyers on Monday were willing to pay $7.06 per bushel of corn. And at a closely watched processor owned by Archer Daniels Midland Corp in Decatur, Illinois, merchants sought to buy soybeans at $16.40 per bushel on Monday, a price that fell to $13.58 by the end of the week.
CHICAGO, July 25- Agribusiness company Bunge Ltd on Thursday reported a sharp drop in quarterly earnings caused by tight crop supplies, and it forecast massive U.S. harvests will boost trading and processing volumes.
*Wheat suffering from spillover selling. CHICAGO, July 25- U.S. old-crop soybeans fell more than 2 percent to a two-month low on Thursday, and soymeal dropped its daily trading limit of $20 per ton for the second day in a row on declining cash markets.
Argentina's biodiesel manufacturers are operating at only 35 percent capacity due to European import tariffs that followed a 2012 increase in Argentine biodiesel export taxes. "All the soyoil that is not converted into making biodiesel has to be sold on the international market," said Luis Zubizarreta, head of Argentina's Carbio biofuels exporters' chamber.
CHICAGO, July 9- Last year's U.S. drought, the worst since the Dust Bowl, is delivering its final sting to major grains buyers like Archer Daniels Midland, Bunge Ltd and Cargill Inc, who are paying record-high premiums for dwindling supplies of last year's crops.
NEW YORK, June 20- Archer Daniels Midland Co said on Thursday it is in talks to sell its cocoa business in a further sign that the U.S. agribusiness giant is focusing on expanding its footprint in the burgeoning global grains sector.
*Glencore results suggest energy margins thinnest. GENEVA/ LONDON, June 17- Energy trading houses are diversifying into food commodities and metals, which makes them likely to invest in assets such as port capacity as they copy their rival Glencore Xstrata to escape excessive reliance on oil.
It's make-or-break time for the first-quarter earnings season, and it comes just as the stock market is showing signs of strain.
U.S. agribusiness giant Archer Daniels Midland tightened its grip on GrainCorp, hiking its bid to $2.9 billion, but may need to offer more to win over Australia's last major independent grains handler.
LONDON/ SINGAPORE, Oct 31- Singapore- listed commodities firm Noble Group Ltd denied it wanted to sell its agribusiness unit, after industry sources said it was looking for a buyer as an alternative to plans for a separate share listing. JPMorgan, Citigroup and Goldman Sachs were hired for the deal.
BUENOS AIRES, Oct 30- Argentina could lose 20 percent of its projected corn crop and 10 percent of its soy this season as violent storms lash the Pampas, turning prime farmland into unplantable mush, a local expert said on Tuesday.
*Argentina is world's No. 2 corn exporter after the U.S. BUENOS AIRES, Oct 30- Argentina could lose 20 percent of its projected corn crop and 10 percent of its soy this season because of violent storms that have lashed the Pampas farm belt over the last three months, a local expert said on Tuesday.
*Net sales $21.81 billion, exceed Wall Street forecasts. The Decatur, Illinois- based company, one of the world's top grain traders, reported net earnings of $182 million, or 28 cents per share, in its fiscal first quarter ended on Sept. 30, down from $460 million, or 68 cents per share, a year earlier.
CHICAGO, Oct 29- CME Group Inc will maintain the nearly round-the-clock electronic grain-trading that it implemented in May despite criticism by some traders that the new format is hurting market liquidity, a top executive told Reuters on Monday. The exchange expanded the grain trading session to fend off a challenge from rival IntercontinentalExchange.
LONDON, Oct 28- 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.
*Hours should be ``more restricted''- Bunge CEO. CHICAGO, Oct 26- CME Group's bid to cement its dominance in grain markets with longer trading hours may be backfiring, with some traders reducing activity and others including major merchant Bunge calling for a return to a shorter day.