GFM Network News


CBOT March 2021 corn with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Corn soars four per cent on fresh sales to China

Chicago soy, wheat also climb

Chicago | Reuters — U.S. corn futures surged four per cent on Tuesday as news of fresh export sales to China re-ignited concerns about tightening U.S. and global grain supplies, analysts said. Soybeans followed corn higher, with worries about a slow start to the Brazilian soy harvest lending support. Wheat firmed on supply concerns and […] Read more

(Innovafeed.com)

ADM, InnovaFeed to build world’s biggest insect protein plant in Illinois

Chicago | Reuters — U.S. grain trader and processor Archer Daniels Midland and French biotech company InnovaFeed announced plans on Thursday to build the world’s largest insect protein plant at Decatur, Illinois. The announcement comes amid rising global feed grain prices and tightening supplies, and as more companies work toward reducing the carbon footprint of […] Read more


(ADM.com)

ADM beats profit estimates but revenue disappoints

Reuters — Global grains trader Archer Daniels Midland beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed analysts’ expectations and net earnings attributable to the company were 44 per cent lower than a year earlier. Shares were down nearly three per cent […] Read more

Among its other uses, wheat gluten goes into the making of plant-based meat analogues. (Romualdo Crissi/iStock/Getty Images)

Feds to probe complaints of wheat gluten dumping

New duties on six countries' gluten imports might follow

Federal officials are launching a probe into whether wheat gluten from six countries is being dumped in Canada at prices undercutting the domestic product. The Canada Border Services Agency (CBSA) said Friday it’s launching an investigation to determine whether “certain wheat gluten” from Australia, Austria, Belgium, France, Germany and Lithuania is being sold at “unfair […] Read more



Saudi Arabia completes first phase of flour mill privatization

Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its […] Read more



Covantis developers said they met with industry stakeholders in Brazil in October to discuss how their system would apply in soybean traffic between Brazil and China. (Covantis.io)

Major grain traders’ e-transaction platform gets name

The blockchain-based global commodity transaction platform being developed by six of the world’s biggest agrifood firms is moving ahead with a new name and project leader. The six companies — ADM, Bunge, Cargill, Louis Dreyfus, Cofco and Glencore Agriculture — announced Wednesday the project will be named Covantis, and have hired former ADM executive Stefano […] Read more