Reuters — Roark Capital, which owns restaurant chains Arby’s and Buffalo Wild Wings, is nearing a deal to buy sandwich chain Subway for about US$9.6 billion, the Wall Street Journal reported Monday. A deal could be finalized this week, the report said, citing people familiar with the matter. “Subway does not intend to make any […] Read more
Subway reportedly nears sale to Arby’s owner
Chain's parent firm considering sale since February
India’s Mahindra aims to double tractor exports with new platform
Oja line to be introduced in North America
Mumbai | Reuters — India’s largest tractor maker, Mahindra and Mahindra, launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters. The new platform, named Oja, was developed in collaboration with India’s Mahindra Research Valley and Japan’s […] Read more
JBS posts quarterly loss on tight U.S. beef margins
'Greater balance' forecasted for global chicken supply
Sao Paulo | Reuters — Brazilian meat company JBS SA on Monday reported a second-quarter loss citing the negative effects of an oversupplied global chicken market and tighter margins for its beef business in the U.S., where it gets most of its sales. JBS reported a net loss of 263.6 million reais (C$73.8 million), the […] Read more
Corteva cuts sales forecast on weak demand for crop protection products
Net seed sales rose eight per cent from a year ago, aided by strong prices and increased corn acres
Reuters – Agricultural chemical and seed company Corteva CTVA.N cut its annual sales expectations as demand for its crop protection products showed signs of contraction. Rise in carrying cost of stock for distributors driven by higher interest rates and improved product availability have taken a toll on demand for crop protection products such as herbicide […] Read more
Nutrien to pause potash ramp up, ammonia project on falling prices
Potash prices have eased after the resumption of shipments from major supplier Belarus
Reuters – Nutrien NTR.TO on Wednesday decided to indefinitely pause its ramp-up plans for potash production and halt work on its clean ammonia project at Geismar, Louisiana, as the world’s biggest fertilizer producer grapples with falling prices. Its U.S.-listed shares fell 2.6% in extended trading as the company cited market conditions for stopping efforts to […] Read more
Strike’s impact on grain movement yet to come
Port workers union, employers reached a tentative agreement Monday morning but backlog likely to linger
MarketsFarm, Reuters – Despite grain movement at Canada’s West Coast ports not being really affected by the British Columbia port workers strike in July, there’s a good chance for issues to arise in the coming months, according to Mark Hemmes, president of Quorum Corp. “The volume of grain that moved in the last three weeks […] Read more
Ukraine says Russia threatened civilian vessels in second week without grain deal
Ukraine has harvested 11.2 million tons of its 2023 grain crop
Kyiv | Reuters – A senior Ukrainian official accused Russia on Friday of threatening civilian vessels in the Black Sea, and urged the international community to condemn what he said were “the methods of terrorists”. Russia last week quit a U.N.-brokered deal allowing Ukraine, a major global grain producer, to safely export its grain via […] Read more
Russian diplomat accuses Ukraine of using Black Sea grain corridor for attacks
Russia says it's negotiating exports of food to countries most in need
Moscow | Reuters – Russian Deputy Foreign Minister Sergei Vershinin on Friday accused Ukraine of using a grain export corridor in the Black Sea to launch “terrorist attacks” against Russian interests, including one this week on the Crimean Bridge. Vershinin was addressing a briefing about Russia’s decision on Monday to quit the year-old Black Sea […] Read more
Grain shipping deal can operate without Russia, Zelenskyy says
'Blackmail is not allowed for anyone'
Kyiv | Reuters — The Black Sea grain shipment deal must continue and could operate without Russian participation after Moscow’s withdrawal on Monday, Ukrainian President Volodymyr Zelenskyy said. Ukraine, Zelenskyy said in his nightly video address, was a food source for 400 million people. “Africa has the right to stability. Asia has the right to […] Read more
Ag input firm FMC’s shares tumble after lowering financial targets
Partners 'rapidly reduced inventory levels'
Reuters — Shares of FMC Corp. fell more than eight per cent on Monday after the agricultural products supplier cut its outlook for the year on volume declines in most of its major markets. “Towards the end of May, we experienced unforeseen and unprecedented volume declines in three out of our four operating regions, as […] Read more
Canadian Cattlemen Presents: Depth of Field
